Enterprise Bank & Trust Co Buys New Shares in Carrier Global Co. (NYSE:CARR)

Enterprise Bank & Trust Co bought a new position in shares of Carrier Global Co. (NYSE:CARR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 16,013 shares of the company's stock, valued at approximately $1,015,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Carrier Global in the 4th quarter worth about $588,029,000. Wealthfront Advisers LLC raised its position in shares of Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after acquiring an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Carrier Global by 139.1% in the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock valued at $361,544,000 after buying an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Carrier Global in the 4th quarter valued at about $166,061,000. Finally, Raymond James Financial Inc. acquired a new position in Carrier Global during the 4th quarter valued at about $108,433,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CARR shares. Wells Fargo & Company lifted their price target on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Robert W. Baird lifted their price target on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Monday, February 24th. Barclays lifted their price target on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Stock Performance

Shares of Carrier Global stock remained flat at $71.39 during trading on Thursday. 851,010 shares of the stock traded hands, compared to its average volume of 4,627,643. The stock has a market capitalization of $61.20 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The company's 50 day moving average price is $65.96 and its 200-day moving average price is $67.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last released 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 firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, equities analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. Carrier Global's payout ratio is currently 13.93%.

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.