Griffin Asset Management Inc. Buys 500 Shares of Carrier Global Co. (NYSE:CARR)

Griffin Asset Management Inc. grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,047 shares of the company’s stock after buying an additional 500 shares during the quarter. Griffin Asset Management Inc.’s holdings in Carrier Global were worth $1,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Carrier Global during the fourth quarter worth $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Carrier Global during the first quarter worth $2,019,000. Institutional investors own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

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

Carrier Global Price Performance

CARR stock opened at $81.60 on Wednesday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 2.94 and a beta of 1.32. The company’s fifty day simple moving average is $74.28 and its 200 day simple moving average is $66.78.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is presently 53.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird cut their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Bank of America lifted their price target on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $80.00.

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.