NorthCrest Asset Management LLC, a prominent institutional investor, has recently reported a substantial increase in its holdings of Carrier Global Co. (NYSE:CARR) shares during the first quarter. According to their latest 13F filing with the Securities and Exchange Commission (SEC), NorthCrest Asset Management LLC now owns 122,952 shares of Carrier Global Co.’s stock. This significant acquisition is well worth $5,625,000 as per the latest filing.
Carrier Global Co., a renowned business entity, has also announced its plan to distribute a quarterly dividend. The said dividend is scheduled to be paid out on Thursday, August 10th. However, only investors who hold recorded shares by Friday, June 23rd will receive this dividend payout. The dividend payment entails an amount of $0.185 per share and demonstrates an annualized figure of $0.74 yielding an impressive return of 1.50%. It is important to note that at present Carrier Global Co.’s dividend payout ratio (DPR) stands at an enticingly low rate of 25.00%.
In other news surrounding Carrier Global Co., recent disclosures reveal that Jurgen Timperman, an insider within the company, executed a notable transaction involving the sale of 138,956 shares on Thursday, June 8th. The average price per share for this transaction was calculated as $45.01 resulting in a total transaction value amounting to a staggering $6,254,409.56.
Naturally, any such transactions carried out by insiders are legally required to be disclosed through filings with regulatory bodies such as the SEC. Interested parties can access further details regarding this particular transaction by visiting the SEC’s official website.
It is noteworthy that Jurgen Timperman currently holds 0.38% ownership stake in Carrier Global Co., indicating his continued involvement and interest in the company’s affairs.
In summary, NorthCrest Asset Management LLC has made significant strides in expanding its holdings within Carrier Global Co. during the first quarter. With their increased stake now valued at $5,625,000 according to the most recent filing, NorthCrest Asset Management LLC’s commitment to this investment demonstrates a high degree of confidence in the company’s future prospects.
Carrier Global Co., on the other hand, continues to reinforce investor confidence by declaring a quarterly dividend with an attractive yield and a relatively low dividend payout ratio. Moreover, insider Jurgen Timperman’s notable sale of shares affirms active trading activity within the company.
Investors and analysts alike will undoubtedly keep a close eye on these developments as they evaluate the implications for Carrier Global Co.’s future performance in an ever-changing market environment.
Institutional Investors Demonstrate Confidence in Carrier Global’s Growth Potential
Institutional investors have been making significant changes to their holdings of Carrier Global, a leading provider of heating, ventilating, and air conditioning (HVAC) solutions. Concord Wealth Partners recently acquired a stake in the company worth $34,000, demonstrating their confidence in Carrier Global’s potential for growth. Likewise, Quadrant Capital Group LLC increased its stake by 35.7% during the fourth quarter, bringing its total shares to 11,676 with a value of $482,000. Mather Group LLC also entered the market during this period, investing approximately $359,000 in Carrier Global. Empirical Finance LLC followed suit by boosting its position by 4.9%, acquiring an additional 1,073 shares valued at $1,057,000. Lastly, Armstrong Advisory Group Inc. joined this wave of institutional investment with a new stake worth around $37,000.
These changes reflect the confidence that institutional investors have in Carrier Global’s prospects in the HVAC industry. With over 86% of the company’s stock now owned by institutional investors and hedge funds collectively, it is evident that they view Carrier Global as a solid investment opportunity.
Equities analysts have also weighed in on the future performance of Carrier Global. Deutsche Bank Aktiengesellschaft recently raised their price target for the stock from $47.00 to $48.00 and assigned it a “hold” rating in their report on April 12th. Oppenheimer initiated coverage on the company with an “outperform” rating and set a price target at $51.00 on March 27th. Additionally, 1-800-FLOWERS.COM has maintained its positive outlook on Carrier Global’s stock in recent reports.
Wells Fargo & Company expressed optimism about Carrier Global but lowered their price target from $47.00 to $46.00 in response to wider market conditions affecting multiple industries during these challenging times.
According to Bloomberg.com, analysts have given the stock an average rating of “Moderate Buy,” with a consensus target price of $49.20.
Furthermore, Carrier Global announced that it will be paying a quarterly dividend on August 10th. Shareholders as of June 23rd will receive a dividend of $0.185 per share, which represents an annualized dividend of $0.74 and a yield of 1.50%. Currently, the company’s dividend payout ratio stands at 25.00%.
On Monday, Carrier Global stock opened at $49.33. The company maintains a current ratio of 1.70 and a quick ratio of 1.23, indicating its strong liquidity position amidst market uncertainties. With a debt-to-equity ratio of 1.03, Carrier Global balances its capital structure effectively.
The firm’s fifty-day moving average stands at $44.79, while the two-hundred-day moving average is slightly higher at $44.39, illustrating the stock’s relative stability over time.
Carrier Global boasts a market capitalization of $41.18 billion and has shown resilience in its price-to-earnings ratio (P/E) despite recent market turbulence with a ratio of 16.67. Its price-to-earnings-growth (PEG) ratio indicates potential for growth opportunities in the industry, currently standing at 1.88 times.
Carrier Global released its quarterly earnings results on April 25th, impressing investors by surpassing analysts’ consensus estimates with earnings per share (EPS) of $0.52 compared to predictions of $0.49 EPS.
The post NorthCrest Asset Management Increases Holdings in Carrier Global Co. as Insider Executes Significant Share Sale appeared first on Best Stocks.
