MML Investors Services LLC Raises Stock Position in Carrier Global Co. (NYSE:CARR)

MML Investors Services LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,612 shares of the company's stock after purchasing an additional 16,324 shares during the quarter. MML Investors Services LLC's holdings in Carrier Global were worth $9,803,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Carrier Global in the 4th quarter worth approximately $588,029,000. Wealthfront Advisers LLC increased its stake in shares of Carrier Global by 5,840.1% in 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 during the period. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global during the fourth quarter worth $166,061,000. Raymond James Financial Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth $108,433,000. Finally, Invesco Ltd. lifted its position in Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after purchasing an additional 1,453,247 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

CARR stock traded up $0.36 during midday trading on Tuesday, reaching $60.85. The stock had a trading volume of 1,677,905 shares, compared to its average volume of 4,477,387. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company's fifty day simple moving average is $63.10 and its 200 day simple moving average is $68.64. The company has a market cap of $52.58 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the firm earned $0.53 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.48%. Carrier Global's dividend payout ratio (DPR) is presently 14.33%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Citigroup reduced their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Monday, February 24th. Barclays cut their target price on shares of Carrier Global from $87.00 to $83.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $79.73.

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.