2,950 Shares in Carrier Global Co. (NYSE:CARR) Purchased by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc acquired a new stake in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,950 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. lifted its stake in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Capital International Investors boosted its stake in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its position in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the 2nd quarter valued at $58,415,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after purchasing an additional 466,829 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’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 transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

Shares of CARR traded up $0.77 on Thursday, hitting $81.82. The company’s stock had a trading volume of 716,635 shares, compared to its average volume of 4,130,656. The company has a 50 day moving average price of $74.63 and a 200 day moving average price of $66.88. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The company has a market capitalization of $73.72 billion, a PE ratio of 57.37, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. Carrier Global’s dividend payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays upped their price target on Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

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.