Welch Group LLC Has $7.44 Million Holdings in Carrier Global Co. (NYSE:CARR)

Welch Group LLC increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,424 shares of the company’s stock after purchasing an additional 7,912 shares during the quarter. Welch Group LLC’s holdings in Carrier Global were worth $7,439,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Marathon Capital Management increased its holdings in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after buying an additional 156 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Carrier Global by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock valued at $982,000 after acquiring an additional 159 shares during the period. Savant Capital LLC grew its holdings in shares of Carrier Global by 0.5% during the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Carrier Global by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after purchasing an additional 163 shares during the period. Finally, Busey Bank raised its stake in Carrier Global by 1.5% in the third quarter. Busey Bank now owns 11,138 shares of the company’s stock valued at $896,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Down 0.1 %

CARR stock traded down $0.04 during mid-day trading on Monday, reaching $73.68. 263,374 shares of the company traded hands, compared to its average volume of 4,136,393. The stock has a market cap of $66.39 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a fifty-two week low of $46.77 and a fifty-two week high of $83.32. The firm’s 50 day moving average price is $76.46 and its 200 day moving average price is $68.02. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business earned $0.79 EPS. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several research firms have commented on CARR. Barclays decreased their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $81.75.

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.