Raymond James Trust N.A. Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)
Raymond James Trust N.A. trimmed its stake in Carrier Global Co. (NYSE:CARR) by 8.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 71,718 shares of the company’s stock after selling 6,397 shares during the period. Raymond James Trust N.A.’s holdings in Carrier Global were worth $2,705,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Advisory Alpha LLC purchased a new stake in shares of Carrier Global in the 3rd quarter worth $26,000. Barnett & Company Inc. lifted its stake in Carrier Global by 66.7% in the third quarter. Barnett & Company Inc. now owns 1,000 shares of the company’s stock worth $31,000 after acquiring an additional 400 shares during the period. Berman Capital Advisors LLC lifted its stake in Carrier Global by 28.6% in the third quarter. Berman Capital Advisors LLC now owns 1,354 shares of the company’s stock worth $41,000 after acquiring an additional 301 shares during the period. TFC Financial Management purchased a new stake in Carrier Global in the third quarter worth about $45,000. Finally, Ellevest Inc. lifted its stake in Carrier Global by 31.7% in the third quarter. Ellevest Inc. now owns 1,514 shares of the company’s stock worth $46,000 after acquiring an additional 364 shares during the period. 83.02% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on CARR. KeyCorp upped their price target on shares of Carrier Global from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 18th. Barclays cut Carrier Global from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $38.00 to $45.00 in a research note on Monday, November 30th. Jefferies Financial Group began coverage on Carrier Global in a research note on Tuesday, October 13th. They set a “buy” rating and a $43.00 price objective for the company. The Goldman Sachs Group started coverage on Carrier Global in a research note on Sunday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Morgan Stanley increased their price target on shares of Carrier Global from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.27.
Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.19. Carrier Global had a net margin of 8.86% and a return on equity of 24.00%. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Carrier Global Co. will post 1.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 10th. Shareholders of record on Wednesday, December 23rd will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.08.
About Carrier Global
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.
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