Value Partners Investments Inc. Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Value Partners Investments Inc. reduced its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,041 shares of the company's stock after selling 3,723 shares during the period. Value Partners Investments Inc.'s holdings in Carrier Global were worth $1,981,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its position in Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock worth $403,000 after purchasing an additional 147 shares during the period. Hanson & Doremus Investment Management raised its position in Carrier Global by 6.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company's stock worth $176,000 after purchasing an additional 150 shares during the period. Syon Capital LLC raised its position in Carrier Global by 2.2% in the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after purchasing an additional 155 shares during the period. BOK Financial Private Wealth Inc. raised its position in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after purchasing an additional 160 shares during the period. Finally, Wealthspire Advisors LLC raised its position in Carrier Global by 3.7% in the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company's stock worth $305,000 after purchasing an additional 161 shares during the period. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Monday, February 24th. Barclays boosted their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Citigroup decreased their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Carrier Global Stock Performance

CARR stock traded down $1.28 during midday trading on Wednesday, reaching $71.05. 3,829,846 shares of the company's stock traded hands, compared to its average volume of 4,646,957. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a market cap of $60.91 billion, a P/E ratio of 11.31, 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. The stock's 50-day moving average is $65.40 and its 200 day moving average is $67.87.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were paid a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

About Carrier Global

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.