11,767 Carrier Global Corporation $CARR Shares Bought by Letson Investment Management Inc.

Letson Investment Management Inc. increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,425 shares of the company’s stock after acquiring an additional 11,767 shares during the period. Carrier Global comprises about 1.9% of Letson Investment Management Inc.’s portfolio, making the stock its 16th largest position. Letson Investment Management Inc.’s holdings in Carrier Global were worth $5,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Carrier Global during the second quarter worth about $590,759,000. Bank of America Corp DE acquired a new stake in Carrier Global in the 2nd quarter valued at approximately $572,908,000. Legal & General Group Plc acquired a new stake in Carrier Global in the 2nd quarter valued at approximately $322,366,000. Primecap Management Co. CA acquired a new stake in Carrier Global in the 2nd quarter valued at approximately $283,585,000. Finally, Deutsche Bank AG bought a new stake in Carrier Global in the 2nd quarter valued at approximately $166,165,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. JPMorgan Chase & Co. reduced their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Royal Bank Of Canada decreased their price target on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, September 30th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Trading Down 0.6%

CARR stock opened at $53.02 on Wednesday. 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 company has a fifty day moving average price of $55.66 and a two-hundred day moving average price of $61.63. Carrier Global Corporation has a one year low of $50.24 and a one year high of $76.76. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of -23.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Equities analysts anticipate that Carrier Global Corporation will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

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