Raymond James & Associates Has $86.88 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Raymond James & Associates lessened its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,079,380 shares of the company's stock after selling 24,359 shares during the period. Raymond James & Associates owned 0.12% of Carrier Global worth $86,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after acquiring an additional 405 shares during the last quarter. Country Trust Bank acquired a new stake in shares of Carrier Global in the third quarter worth $40,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter worth $32,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global in the second quarter worth $35,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.22 during midday trading on Monday, reaching $81.33. 1,510,949 shares of the company traded hands, compared to its average volume of 4,117,742. The firm has a market cap of $73.28 billion, a PE ratio of 56.93, a PEG ratio of 2.94 and a beta of 1.32. The stock's 50-day simple moving average is $75.32 and its 200-day simple moving average is $67.30. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32. 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 - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $7.05 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. Carrier Global's dividend payout ratio is 53.15%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CARR. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective on the stock. Barclays raised their target price on Carrier Global from $81.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Baird R W raised Carrier Global from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 15th. Wells Fargo & Company raised their target price on Carrier Global from $73.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, Morgan Stanley began coverage on Carrier Global in a research report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $80.67.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global 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 directly owns 103,066 shares of the company's stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.95% of the stock is currently 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.