Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,778 shares of the company’s stock after selling 379 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Carrier Global were worth $316,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Carrier Global during the third quarter valued at about $28,000. Larson Financial Group LLC lifted its position in shares of Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after buying an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Carrier Global during the third quarter valued at about $30,000. GHP Investment Advisors Inc. increased its holdings in shares of Carrier Global by 205.1% during the third quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Carrier Global during the fourth quarter valued at about $32,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $1.44 during midday trading on Tuesday, reaching $55.06. 2,478,354 shares of the stock were exchanged, compared to its average volume of 4,667,529. The firm has a market cap of $49.56 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.26 and a beta of 1.39. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The firm has a 50-day simple moving average of $56.32 and a two-hundred day simple moving average of $54.75. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. As a group, analysts anticipate that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm 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 dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is 48.10%.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent analyst reports. Citigroup upped their price objective 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. Barclays upped their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada cut 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. Oppenheimer restated an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a report on Thursday, April 18th. Finally, Wells Fargo & Company cut their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus price target of $61.15.

Insider Activity

In other 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 transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s 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 in the company, valued at approximately $3,553,282.91. 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.