GPM Growth Investors Inc. Cuts Stake in Carrier Global Co. (NYSE:CARR)

GPM Growth Investors Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,014 shares of the company’s stock after selling 1,203 shares during the period. Carrier Global makes up approximately 3.0% of GPM Growth Investors Inc.’s portfolio, making the stock its 15th largest position. GPM Growth Investors Inc.’s holdings in Carrier Global were worth $6,320,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CARR. Valeo Financial Advisors LLC grew its position in shares of Carrier Global by 5.8% during the third quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock worth $584,000 after buying an additional 584 shares in the last quarter. PDS Planning Inc purchased a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $205,000. ST Germain D J Co. Inc. increased its position in shares of Carrier Global by 9.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 6,355 shares of the company’s stock valued at $351,000 after purchasing an additional 570 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Carrier Global in the 3rd quarter valued at $209,000. Finally, Mission Wealth Management LP purchased a new stake in shares of Carrier Global during the 3rd quarter worth $326,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.92 during trading hours on Tuesday, hitting $61.79. The stock had a trading volume of 3,613,509 shares, compared to its average volume of 4,852,459. 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’s fifty day simple moving average is $56.72 and its 200 day simple moving average is $54.88. The firm has a market capitalization of $55.67 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 2.53 and a beta of 1.39. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $63.79.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Sell-side analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is 53.15%.

Insider Transactions at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the 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 completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CARR has been the topic of several recent analyst reports. TD Cowen increased their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup boosted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their target price on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday. Three 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, the stock presently has a consensus rating of “Hold” and an average target price of $62.62.

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.