Sovereign Financial Group Inc. Has $243,000 Holdings in Carrier Global Co. (NYSE:CARR)

Sovereign Financial Group Inc. boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 4.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,224 shares of the company’s stock after purchasing an additional 188 shares during the period. Sovereign Financial Group Inc.’s holdings in Carrier Global were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Beese Fulmer Investment Management Inc. raised its stake in Carrier Global by 0.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after purchasing an additional 181 shares in the last quarter. Graypoint LLC raised its stake in Carrier Global by 1.9% in the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after purchasing an additional 184 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in Carrier Global by 16.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares during the period. Operose Advisors LLC grew its stake in Carrier Global by 44.4% during the third quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in Carrier Global by 2.2% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after buying an additional 201 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders sold a total of 541,005 shares of company stock valued at $30,536,214 over the last 90 days. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada lowered their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Barclays increased their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Robert W. Baird upped their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Performance

Carrier Global stock traded up $0.05 during trading on Wednesday, hitting $64.31. The stock had a trading volume of 2,285,309 shares, compared to its average volume of 4,835,917. The stock has a market cap of $57.94 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The stock’s 50 day moving average is $57.53 and its two-hundred day moving average is $55.24. 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 Co. has a 1 year low of $40.49 and a 1 year high of $64.69.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio is presently 53.15%.

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.