Gables Capital Management Inc. Invests $80,000 in Carrier Global (NYSE:CARR)

Gables Capital Management Inc. purchased a new position in Carrier Global (NYSE:CARR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,622 shares of the company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Taylor Cottrill Erickson & Associates Inc. bought a new position in Carrier Global in the second quarter worth approximately $320,000. IFM Investors Pty Ltd bought a new stake in Carrier Global during the 2nd quarter valued at $1,358,000. Howe & Rusling Inc. bought a new stake in Carrier Global during the 2nd quarter valued at $41,000. Kistler Tiffany Companies LLC bought a new stake in Carrier Global during the 2nd quarter valued at $271,000. Finally, DNB Asset Management AS bought a new stake in Carrier Global during the 2nd quarter valued at $3,567,000. Hedge funds and other institutional investors own 0.88% of the company’s stock.

In related news, Director John J. Greisch acquired 35,000 shares of Carrier Global stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $17.77 per share, for a total transaction of $621,950.00. Also, CEO David L. Gitlin acquired 57,580 shares of Carrier Global stock in a transaction on Monday, May 18th. The shares were bought at an average price of $17.77 per share, with a total value of $1,023,196.60.

CARR stock traded up $0.34 during midday trading on Friday, reaching $27.24. The stock had a trading volume of 9,116,275 shares, compared to its average volume of 6,216,850. The company has a debt-to-equity ratio of 3.64, a current ratio of 1.34 and a quick ratio of 0.99. The firm has a fifty day simple moving average of $23.84. Carrier Global has a 52-week low of $11.50 and a 52-week high of $27.72.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities research analysts expect that Carrier Global will post 1.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, June 26th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%.

Several analysts have issued reports on the company. Citigroup increased their target price on Carrier Global from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. William Blair reissued a “market perform” rating on shares of Carrier Global in a research report on Monday, May 11th. UBS Group initiated coverage on Carrier Global in a research report on Monday, June 22nd. They issued a “buy” rating and a $26.00 price objective for the company. JPMorgan Chase & Co. cut Carrier Global from an “overweight” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Wednesday, June 10th. Finally, Atlantic Securities initiated coverage on Carrier Global in a research report on Tuesday, May 19th. They issued an “overweight” rating for the company. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.90.

About Carrier Global

There is no company description available for Carrier Global Corp.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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