Key Financial Inc Acquires 1,209 Shares of Carrier Global Co. (NYSE:CARR)

Key Financial Inc boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 101.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,401 shares of the company’s stock after purchasing an additional 1,209 shares during the quarter. Key Financial Inc’s holdings in Carrier Global were worth $151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $2,231,000. Signaturefd LLC increased its stake in Carrier Global by 20.7% in the second quarter. Signaturefd LLC now owns 19,439 shares of the company’s stock valued at $1,226,000 after acquiring an additional 3,338 shares during the period. Modera Wealth Management LLC increased its stake in Carrier Global by 3.9% in the second quarter. Modera Wealth Management LLC now owns 21,756 shares of the company’s stock valued at $1,372,000 after acquiring an additional 809 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $159,000. Finally, Arkadios Wealth Advisors lifted its position in shares of Carrier Global by 14.2% during the 2nd quarter. Arkadios Wealth Advisors now owns 12,040 shares of the company’s stock worth $759,000 after buying an additional 1,498 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 2.4 %

Carrier Global stock opened at $72.78 on Friday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $73.04. The firm has a market capitalization of $65.58 billion, a PE ratio of 50.90, a P/E/G ratio of 2.63 and a beta of 1.32. The company’s 50-day moving average is $66.33 and its 200-day moving average is $61.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, June 21st. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CARR. Oppenheimer lifted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $72.00 in a research note on Monday, July 29th. Robert W. Baird reduced their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Citigroup upgraded shares of 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 report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and an average target price of $67.08.

Carrier Global Company 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.