Malaga Cove Capital LLC Purchases Shares of 5,406 Carrier Global Co. (NYSE:CARR)

Malaga Cove Capital LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,406 shares of the company’s stock, valued at approximately $311,000.

Several other large investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of Carrier Global by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 13,293,503 shares of the company’s stock worth $763,712,000 after acquiring an additional 296,725 shares during the period. Northern Trust Corp raised its holdings in shares of Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock worth $493,560,000 after purchasing an additional 289,973 shares in the last quarter. FMR LLC lifted its stake in Carrier Global by 18.3% during the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock valued at $368,006,000 after purchasing an additional 1,033,484 shares during the last quarter. C WorldWide Group Holding A S bought a new stake in Carrier Global during the third quarter worth approximately $260,761,000. Finally, JPMorgan Chase & Co. grew its position in Carrier Global by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock worth $258,438,000 after buying an additional 521,189 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.9 %

CARR stock traded up $1.15 during midday trading on Friday, reaching $62.09. The company had a trading volume of 3,622,875 shares, compared to its average volume of 4,988,253. The company has a 50 day moving average of $57.32 and a two-hundred day moving average of $55.09. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $63.79. The company has a market capitalization of $55.94 billion, a P/E ratio of 43.42, a PEG ratio of 2.56 and a beta of 1.34.

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

Carrier Global Announces Dividend

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 issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. Carrier Global’s dividend payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARR shares. Citigroup raised their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Oppenheimer lifted their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird boosted their price objective on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen raised their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.71.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,005 shares of company stock valued at $30,536,214. 6.95% of the stock is currently owned by corporate insiders.

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.