ProShare Advisors LLC Raises Stock Position in Carrier Global Co. (NYSE:CARR)

ProShare Advisors LLC increased its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,809 shares of the company's stock after buying an additional 14,473 shares during the period. ProShare Advisors LLC's holdings in Carrier Global were worth $8,246,000 as of its most recent SEC filing.

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

Carrier Global Trading Down 3.8%

CARR traded down $2.88 on Wednesday, hitting $72.07. The company had a trading volume of 5,182,004 shares, compared to its average volume of 4,627,164. The business's fifty day simple moving average is $64.95 and its 200 day simple moving average is $67.98. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a market cap of $61.79 billion, a PE ratio of 11.48, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. Equities research analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.25%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Analyst Ratings Changes

CARR has been the subject of several research analyst reports. Robert W. Baird lifted their price target on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday. Royal Bank of Canada upped 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. Citigroup lowered their price target on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho set a $72.00 price objective on Carrier Global in a research note on Tuesday, April 22nd. Finally, Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a report on Friday, May 9th. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.