BKM Wealth Management LLC Acquires New Position in Carrier Global Co. (NYSE:CARR)

BKM Wealth Management LLC acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,433 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Marathon Capital Management raised its stake in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the period. Savant Capital LLC raised its stake in Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares during the period. Foundations Investment Advisors LLC raised its stake in Carrier Global by 2.9% during the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after purchasing an additional 163 shares during the period. Busey Bank raised its stake in Carrier Global by 1.5% during the third quarter. Busey Bank now owns 11,138 shares of the company’s stock worth $896,000 after purchasing an additional 165 shares during the period. Finally, Founders Capital Management LLC raised its stake in Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CARR shares. Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays dropped their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Stephens lowered shares of Carrier Global from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.75.

Carrier Global Stock Performance

Shares of CARR opened at $73.72 on Friday. The company’s 50 day moving average price is $76.46 and its 200 day moving average price is $67.94. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $83.32. The company has a market capitalization of $66.42 billion, a PE ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.61 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Research analysts expect that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is 53.15%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is owned by insiders.

About Carrier Global

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.