GAMMA Investing LLC Buys Shares of 8,839 Carrier Global Co. (NYSE:CARR)

GAMMA Investing LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,839 shares of the company’s stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. Beese Fulmer Investment Management Inc. increased its stake in Carrier Global by 0.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after purchasing an additional 181 shares in the last quarter. Graypoint LLC increased its position in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after acquiring an additional 184 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after acquiring an additional 200 shares during the last quarter. Operose Advisors LLC lifted its position in Carrier Global by 44.4% during the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Boston Financial Mangement LLC grew its stake in Carrier Global by 2.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE CARR traded down $0.51 during trading hours on Wednesday, reaching $54.63. The company’s stock had a trading volume of 2,188,240 shares, compared to its average volume of 4,686,128. The firm has a market capitalization of $49.17 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.26 and a beta of 1.39. The company’s 50-day moving average is $56.34 and its two-hundred day moving average is $54.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company posted $0.40 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts predict that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. Carrier Global’s dividend payout ratio (DPR) is 48.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CARR. Barclays raised their price objective on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Citigroup upped their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.15.

Insider Buying and Selling

In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 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.