Jacobs Levy Equity Management Inc. Acquires 1,079,103 Shares of Carrier Global Co. (NYSE:CARR)

Jacobs Levy Equity Management Inc. grew its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 2,484.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,122,545 shares of the company's stock after acquiring an additional 1,079,103 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.13% of Carrier Global worth $76,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. boosted its holdings in Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after purchasing an additional 143 shares during the period. Chicago Partners Investment Group LLC lifted 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 valued at $403,000 after buying an additional 147 shares during the period. Hanson & Doremus Investment Management grew its position in Carrier Global by 6.2% during the fourth quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company's stock worth $176,000 after buying an additional 150 shares in the last quarter. Syon Capital LLC increased its stake in Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after acquiring an additional 155 shares during the period. Finally, BOK Financial Private Wealth Inc. raised its holdings in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

CARR has been the topic of several recent research reports. Royal Bank of Canada lifted their price objective on Carrier Global from $71.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Friday. Citigroup reduced 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 upped their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Four investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.53.

Carrier Global Price Performance

Carrier Global stock opened at $71.44 on Friday. The business's fifty day moving average is $63.72 and its two-hundred day moving average is $67.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The firm has a market cap of $61.25 billion, a P/E ratio of 11.38, a P/E/G 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.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS 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 firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company's revenue was down 3.7% on a year-over-year basis. Equities research analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.