25,428 Carrier Global Corporation $CARR Shares Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its Carrier Global stake by 213.3%, buying 25,428 shares in the third quarter to hold 37,350 shares valued at approximately $2.1 million.
• Institutional investors own about 91% of Carrier Global. Recent analyst views were mixed, with 11 Buy, eight Hold and one Sell rating; the consensus rating was Moderate Buy.
• Carrier’s latest quarterly results beat expectations: EPS was $0.87 versus $0.76 forecast, and revenue of $6.26 billion exceeded the $6.09 billion estimate. Revenue grew 12.3% year over year.

Chicago Partners Investment Group LLC increased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 213.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,350 shares of the company's stock after buying an additional 25,428 shares during the period. Chicago Partners Investment Group LLC's holdings in Carrier Global were worth $2,101,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CARR. Bank of New York Mellon Corp purchased a new position in Carrier Global in the second quarter valued at $590,759,000. Bank of America Corp DE acquired a new stake in Carrier Global in the second quarter valued at $572,908,000. Legal & General Group Plc acquired a new stake in Carrier Global in the second quarter valued at $322,366,000. Primecap Management Co. CA acquired a new stake in Carrier Global in the second quarter valued at $283,585,000. Finally, Deutsche Bank AG purchased a new stake in Carrier Global during the 2nd quarter worth about $166,165,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird lowered their price target on Carrier Global from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Monday, November 2nd. Zacks Research cut shares of Carrier Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 1st. Mizuho reduced their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. BNP Paribas Exane reduced their price objective on shares of Carrier Global from $68.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, October 30th. Finally, Sanford C. Bernstein lowered their target price on shares of Carrier Global from $78.00 to $64.00 and set a "market perform" rating for the company in a report on Wednesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $69.27.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $52.44 on Friday. The firm's fifty day simple moving average is $55.87 and its 200-day simple moving average is $61.68. The stock has a market capitalization of $42.91 billion, a price-to-earnings ratio of -23.62, a PEG ratio of 1.91 and a beta of 1.33. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. Carrier Global's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.8%. Carrier Global's dividend payout ratio is currently -43.24%.

About Carrier Global

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company's offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.

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