Price T Rowe Associates Inc. MD Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Price T Rowe Associates Inc. MD reduced its position in Carrier Global Co. (NYSE:CARR - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,066,802 shares of the company's stock after selling 1,753,219 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.34% of Carrier Global worth $209,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. RFG Advisory LLC raised its stake in shares of Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company's stock worth $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company's stock valued at $1,410,000 after acquiring an additional 19,018 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $2,213,000. Waldron Private Wealth LLC grew its position in Carrier Global by 90.5% in the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company's stock worth $1,128,000 after purchasing an additional 7,854 shares in the last quarter. Finally, Gateway Wealth Partners LLC increased its stake in Carrier Global by 221.8% in the 4th quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company's stock valued at $705,000 after buying an additional 7,118 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Barclays dropped their price objective on Carrier Global from $87.00 to $83.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Citigroup lowered their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Finally, Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus price target of $80.43.

Carrier Global Price Performance

Shares of CARR stock traded up $2.02 during trading hours on Friday, hitting $71.59. 2,307,117 shares of the company's stock were exchanged, compared to its average volume of 5,655,601. The company has a market capitalization of $61.86 billion, a PE ratio of 11.40, a PEG ratio of 2.01 and a beta of 1.33. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The business's 50 day simple moving average is $62.97 and its 200-day simple moving average is $68.46.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be given a $0.225 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.26%. Carrier Global's payout ratio is currently 14.33%.

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.