Carrier Global Co. (NYSE:CARR) Shares Acquired by Rialto Wealth Management LLC

Rialto Wealth Management LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,827 shares of the company’s stock after acquiring an additional 257 shares during the quarter. Rialto Wealth Management LLC’s holdings in Carrier Global were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CARR. Chicago Partners Investment Group LLC raised its holdings in Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after purchasing an additional 147 shares during the period. Syon Capital LLC grew its holdings in Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after purchasing an additional 155 shares during the period. BOK Financial Private Wealth Inc. increased its position in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares in the last quarter. Wealthspire Advisors LLC raised its stake in shares of Carrier Global by 3.7% during the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company’s stock worth $305,000 after buying an additional 161 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in shares of Carrier Global by 0.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company’s stock valued at $1,378,000 after buying an additional 169 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock opened at $70.32 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $65.69 and a 200 day moving average price of $67.69. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The stock has a market cap of $60.29 billion, a P/E ratio of 11.20, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. Sell-side analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s dividend payout ratio is presently 13.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Wells Fargo & Company boosted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Barclays upped their price target on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird lifted their price objective on Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.00.

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.