Canada Pension Plan Investment Board Sells 225,997 Shares of Carrier Global Co. (NYSE:CARR)

Canada Pension Plan Investment Board reduced its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 74.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,500 shares of the company's stock after selling 225,997 shares during the period. Canada Pension Plan Investment Board's holdings in Carrier Global were worth $5,427,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock worth $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock worth $977,028,000 after buying an additional 46,222 shares in the last quarter. Norges Bank acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $588,029,000. Pictet Asset Management Holding SA increased its stake in shares of Carrier Global by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company's stock valued at $415,078,000 after acquiring an additional 126,174 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Carrier Global by 40.3% during the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after acquiring an additional 1,453,247 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 0.4 %

NYSE:CARR traded down $0.26 on Friday, hitting $60.05. The stock had a trading volume of 3,862,616 shares, compared to its average volume of 4,488,941. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The firm's fifty day simple moving average is $63.21 and its two-hundred day simple moving average is $68.79. The stock has a market cap of $51.88 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter last year, the company earned $0.53 EPS. Analysts predict 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 will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.50%. Carrier Global's payout ratio is currently 14.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CARR. Wolfe Research upgraded 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. Royal Bank of Canada reduced their target price on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their price objective on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average target price of $79.73.

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.