USS Investment Management Ltd cut its position in Carrier Global Co. (NYSE:CARR - Free Report) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,477 shares of the company's stock after selling 41,148 shares during the quarter. USS Investment Management Ltd's holdings in Carrier Global were worth $7,068,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.3% during the fourth 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 during the period. Northern Trust Corp grew its holdings in shares of Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after buying an additional 1,266,137 shares during the last quarter. Norges Bank purchased a new position in shares of Carrier Global during the fourth quarter worth about $588,029,000. Finally, Pictet Asset Management Holding SA increased its position in 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 during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.
Analyst Upgrades and Downgrades
CARR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Friday, May 9th. Wells Fargo & Company increased their price target on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Four 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.
View Our Latest Stock Report on CARR
Carrier Global Price Performance
Shares of NYSE CARR traded up $0.80 during trading on Tuesday, hitting $71.78. 911,145 shares of the company were exchanged, compared to its average volume of 4,634,751. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.01 and a beta of 1.33. The firm's fifty day moving average price is $65.28 and its 200 day moving average price is $67.84.
Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter last year, the business earned $0.51 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.
Carrier Global Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global's dividend payout ratio is currently 13.93%.
About Carrier Global
(
Free Report)
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.
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