Cullinan Associates Inc. Purchases 28,208 Shares of Carrier Global Corporation $CARR

Cullinan Associates Inc. boosted its position in Carrier Global Corporation (NYSE:CARR) by 104.3% during the third quarter, HoldingsChannel.com reports. The fund owned 55,253 shares of the company’s stock after buying an additional 28,208 shares during the quarter. Cullinan Associates Inc.’s holdings in Carrier Global were worth $3,031,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CARR. Dynamic Advisor Solutions LLC lifted its stake in Carrier Global by 2.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company’s stock worth $426,000 after purchasing an additional 158 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Carrier Global by 3.2% in the 3rd quarter. Brookstone Capital Management now owns 6,192 shares of the company’s stock valued at $340,000 after purchasing an additional 194 shares in the last quarter. HORAN Wealth LLC increased its stake in shares of Carrier Global by 3.6% in the 1st quarter. HORAN Wealth LLC now owns 5,771 shares of the company’s stock valued at $306,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of Carrier Global by 53.5% in the 3rd quarter. Financial Management Professionals Inc. now owns 588 shares of the company’s stock valued at $32,000 after purchasing an additional 205 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Carrier Global by 26.0% during the 3rd quarter. Westside Investment Management Inc. now owns 994 shares of the company’s stock worth $55,000 after buying an additional 205 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Zacks Research cut Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Robert W. Baird decreased their target price on Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Mizuho lowered their target price on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Finally, Weiss Ratings cut shares of Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $52.44 on Friday. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68. The firm has a market capitalization of $42.91 billion, a P/E ratio of -23.62, a P/E/G ratio of 1.91 and a beta of 1.33. The company’s 50 day moving average price is $55.87 and its two-hundred day moving average price is $61.68.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the prior year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Carrier Global Corporation will post 2.86 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is currently -43.24%.

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.