Federated Hermes Inc. Increases Holdings in Carrier Global Co. (NYSE:CARR)

Federated Hermes Inc. lifted its position in Carrier Global Co. (NYSE:CARR) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,537 shares of the company’s stock after buying an additional 638 shares during the period. Federated Hermes Inc.’s holdings in Carrier Global were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Carrier Global in the third quarter worth about $28,000. Larson Financial Group LLC boosted its holdings in shares of Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in Carrier Global during the third quarter valued at approximately $30,000. Planned Solutions Inc. purchased a new stake in Carrier Global during the fourth quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Carrier Global in the fourth quarter worth approximately $34,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CARR. Citigroup upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada reduced their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Barclays boosted their price objective on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. TD Cowen raised their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Robert W. Baird upped their price target on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.71.

Insider Activity

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,005 shares of company stock worth $30,536,214. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Performance

CARR stock opened at $62.09 on Monday. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $63.79. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34. The business’s fifty day simple moving average is $57.32 and its two-hundred day simple moving average is $55.14. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

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.