First Trust Direct Indexing L.P. Grows Holdings in Carrier Global Co. (NYSE:CARR)

First Trust Direct Indexing L.P. lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,335 shares of the company’s stock after acquiring an additional 3,275 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Carrier Global were worth $1,053,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Great Valley Advisor Group Inc. increased its holdings in Carrier Global by 2.8% in the 4th quarter. Great Valley Advisor Group Inc. now owns 11,027 shares of the company’s stock worth $633,000 after acquiring an additional 298 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of Carrier Global by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,752 shares of the company’s stock valued at $7,512,000 after purchasing an additional 333 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Carrier Global during the fourth quarter worth about $25,000. ICW Investment Advisors LLC raised its position in shares of Carrier Global by 2.1% during the 4th quarter. ICW Investment Advisors LLC now owns 14,728 shares of the company’s stock worth $846,000 after purchasing an additional 297 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Carrier Global by 88.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 951 shares of the company’s stock valued at $55,000 after buying an additional 447 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Up 1.9 %

CARR opened at $62.09 on Friday. The business’s 50 day moving average price is $57.17 and its 200 day moving average price is $55.02. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $55.94 billion, a PE ratio of 43.42, a P/E/G ratio of 2.56 and a beta of 1.34. Carrier Global Co. has a one year low of $40.28 and a one year high of $63.79.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

A number of brokerages have commented on CARR. Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Barclays increased their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, TD Cowen upped their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.71.

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction 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 sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,005 shares of company stock valued at $30,536,214. Company insiders own 6.95% of the company’s stock.

Carrier Global 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.