QRG Capital Management Inc. Boosts Holdings in Carrier Global Corporation (NYSE:CARR)

QRG Capital Management Inc. grew its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,108 shares of the company's stock after purchasing an additional 17,842 shares during the period. QRG Capital Management Inc.'s holdings in Carrier Global were worth $5,776,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position 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 last quarter. Fisher Asset Management LLC increased its stake in shares of Carrier Global by 0.3% in 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 raised its holdings in Carrier Global by 16.7% during the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after buying an additional 1,266,137 shares during the last quarter. Norges Bank purchased a new stake in Carrier Global during the 4th quarter valued at $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Carrier Global by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after acquiring an additional 936,892 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Up 0.0%

Shares of CARR stock traded up $0.02 during trading hours on Thursday, hitting $69.80. 4,073,098 shares of the company's stock traded hands, compared to its average volume of 4,691,105. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. The stock has a market cap of $59.84 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.96 and a beta of 1.33. The stock's fifty day simple moving average is $68.24 and its two-hundred day simple moving average is $67.40.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Barclays increased their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their target price on Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.