Mackenzie Financial Corp Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Mackenzie Financial Corp lessened its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,146 shares of the company's stock after selling 61,850 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of Carrier Global worth $35,983,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Carrier Global in the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC raised its stake in Carrier Global by 5,840.1% during the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after buying an additional 4,915,826 shares during the period. Brown Advisory Inc. raised its stake in shares of Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after purchasing an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. purchased a new stake in Carrier Global in the fourth quarter worth $108,433,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $1.28 during mid-day trading on Wednesday, hitting $71.05. The company had a trading volume of 3,829,846 shares, compared to its average volume of 4,646,957. Carrier Global Co. has a 12 month low of $54.22 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The firm 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 business's 50-day simple moving average is $65.40 and its 200-day simple moving average is $67.87.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping 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 company had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same period last year, the firm posted $0.51 earnings per share. The business's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CARR shares. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Friday, May 9th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Monday, February 24th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Citigroup reduced their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Robert W. Baird boosted their target price on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

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.