Quantinno Capital Management LP Grows Holdings in Carrier Global Co. (NYSE:CARR)

Quantinno Capital Management LP increased its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 35.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,097 shares of the company's stock after purchasing an additional 17,191 shares during the quarter. Quantinno Capital Management LP's holdings in Carrier Global were worth $4,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Carrier Global in the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC boosted its stake in Carrier Global by 5,840.1% during the fourth 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. boosted its stake in Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after acquiring an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Carrier Global during the fourth quarter worth $166,061,000. Finally, Raymond James Financial Inc. acquired a new position in Carrier Global during the fourth quarter worth $108,433,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday. Citigroup decreased their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays raised their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Finally, Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Four equities 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 stock. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Trading Down 1.1%

Shares of NYSE CARR traded down $0.77 during mid-day trading on Friday, hitting $71.00. The stock had a trading volume of 4,450,718 shares, compared to its average volume of 4,649,493. 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 Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The business has a 50 day moving average price of $65.21 and a two-hundred day moving average price of $67.93. The firm has a market cap of $60.87 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

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, beating the consensus estimate of $0.58 by $0.07. The business 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 firm'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 business posted $0.51 earnings per share. On average, equities analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Friday, May 2nd. 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.