Wedmont Private Capital Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Wedmont Private Capital boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,779 shares of the company’s stock after acquiring an additional 1,145 shares during the quarter. Wedmont Private Capital’s holdings in Carrier Global were worth $1,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Carrier Global during the second quarter worth approximately $32,000. Register Financial Advisors LLC bought a new stake in Carrier Global during the first quarter worth approximately $34,000. Finally, Rise Advisors LLC increased its stake in Carrier Global by 3,668.8% during the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after acquiring an additional 587 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $80.43 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a market capitalization of $72.47 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 3.23 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $82.16. The company’s 50 day simple moving average is $73.19 and its 200 day simple moving average is $66.15.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the business earned $0.79 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.94%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analysts Forecast Growth

CARR has been the topic of several analyst reports. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Bank of America upped their target price on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Wells Fargo & Company increased their price target on shares of Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.36.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.95% of the company’s stock.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.