Wellington Management Group LLP Buys 136,597 Shares of Carrier Global Co. (NYSE:CARR)

Wellington Management Group LLP increased its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 303.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,661 shares of the company's stock after buying an additional 136,597 shares during the quarter. Wellington Management Group LLP's holdings in Carrier Global were worth $12,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CARR. Chicago Partners Investment Group LLC increased its stake in shares of Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock worth $403,000 after acquiring an additional 147 shares during the last quarter. Syon Capital LLC raised its stake in shares of Carrier Global by 2.2% during the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after purchasing an additional 155 shares in the last quarter. BOK Financial Private Wealth Inc. lifted its holdings in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after buying an additional 160 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Carrier Global by 3.7% in the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company's stock valued at $305,000 after buying an additional 161 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of Carrier Global by 0.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company's stock valued at $1,378,000 after buying an additional 169 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR traded up $0.16 during midday trading on Thursday, reaching $71.55. 1,865,278 shares of the stock were exchanged, compared to its average volume of 5,544,574. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a market cap of $61.34 billion, a P/E ratio of 11.39, a PEG ratio of 2.01 and a beta of 1.33. The stock's 50 day simple moving average is $65.96 and its 200 day simple moving average is $67.74. 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 (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. On average, sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared 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 dividend yield of 1.26%. The ex-dividend date was Friday, May 2nd. Carrier Global's payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CARR shares. JPMorgan Chase & Co. boosted their price target on Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Monday, February 24th. Finally, Royal Bank of Canada upped their price objective 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. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.