Howland Capital Management LLC Invests $325,000 in Carrier Global Co. (NYSE:CARR)

Howland Capital Management LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,596 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors have also recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after acquiring an additional 2,961,923 shares during the period. Capital International Investors lifted its holdings in Carrier Global by 0.6% in the fourth quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock valued at $4,657,260,000 after acquiring an additional 443,568 shares during the period. Fisher Asset Management LLC lifted its holdings in Carrier Global by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after acquiring an additional 310,453 shares during the period. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter worth about $444,487,000. Finally, PineStone Asset Management Inc. raised its stake in shares of Carrier Global by 21.6% in the fourth quarter. PineStone Asset Management Inc. now owns 4,752,550 shares of the company’s stock worth $273,034,000 after buying an additional 845,622 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR remained flat at $66.41 during trading hours on Friday. The stock had a trading volume of 156,733 shares, compared to its average volume of 4,448,416. The company has a market capitalization of $59.84 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 2.48 and a beta of 1.32. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $63.98 and its 200 day moving average is $59.10. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $66.99.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Equities analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is currently 53.15%.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. Oppenheimer raised their price objective on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Barclays increased their target price on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Robert W. Baird increased their target price on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company increased their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus target price of $64.14.

Insider Activity at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the sale, the vice president now owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The disclosure for this sale can be found here. Insiders sold a total of 262,954 shares of company stock worth $16,650,050 in the last quarter. 6.95% of the stock is owned by company insiders.

Carrier Global Profile

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.