Clear Harbor Asset Management LLC Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

Clear Harbor Asset Management LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,249 shares of the company’s stock after buying an additional 500 shares during the period. Clear Harbor Asset Management LLC’s holdings in Carrier Global were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in shares of Carrier Global by 67.2% during the third quarter. GHP Investment Advisors Inc. now owns 687 shares of the company’s stock valued at $55,000 after acquiring an additional 276 shares in the last quarter. First Bank & Trust increased its stake in Carrier Global by 7.4% during the 3rd quarter. First Bank & Trust now owns 4,238 shares of the company’s stock valued at $341,000 after purchasing an additional 291 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in Carrier Global by 7,969.0% in the third quarter. Pathway Financial Advisers LLC now owns 58,823 shares of the company’s stock worth $4,735,000 after buying an additional 58,094 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Carrier Global by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after buying an additional 159 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Carrier Global by 11.3% during the third quarter. Forsta AP Fonden now owns 172,800 shares of the company’s stock valued at $13,909,000 after buying an additional 17,600 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Insiders Place Their Bets

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction 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 approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $73.72 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The firm has a 50 day moving average of $76.46 and a 200 day moving average of $68.02.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global declared that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

A number of equities analysts recently weighed in 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. Barclays lowered their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Seven investment 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 company. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.75.

Carrier Global Company Profile

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.