Brighton Jones LLC Acquires 30,929 Shares of Carrier Global Corporation $CARR

Brighton Jones LLC raised its stake in Carrier Global Corporation (NYSE:CARR) by 167.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,362 shares of the company’s stock after acquiring an additional 30,929 shares during the period. Brighton Jones LLC’s holdings in Carrier Global were worth $2,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Bank of New York Mellon Corp bought a new stake in shares of Carrier Global during the 2nd quarter worth $590,759,000. Bank of America Corp DE purchased a new stake in shares of Carrier Global during the second quarter valued at $572,908,000. Dimensional Fund Advisors LP lifted its stake in Carrier Global by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after buying an additional 246,723 shares in the last quarter. Legal & General Group Plc purchased a new stake in Carrier Global during the second quarter valued at about $322,366,000. Finally, Pictet Asset Management Holding SA lifted its stake in Carrier Global by 15.7% during the third quarter. Pictet Asset Management Holding SA now owns 3,957,152 shares of the company’s stock valued at $217,089,000 after buying an additional 536,316 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CARR. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. Citigroup lowered their price objective on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Robert W. Baird reduced their target price on Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Finally, Sanford C. Bernstein decreased their target price on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, October 7th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Stock Performance

Shares of CARR opened at $53.38 on Tuesday. The company’s 50 day moving average price is $55.77 and its 200 day moving average price is $61.65. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a market capitalization of $43.68 billion, a PE ratio of 21.08, a PEG ratio of 2.03 and a beta of 1.33. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating 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 firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts expect that Carrier Global Corporation will post 2.86 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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

About Carrier Global

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.