Pinebridge Investments L.P. Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Pinebridge Investments L.P. decreased its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 77.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,496 shares of the company's stock after selling 185,948 shares during the period. Pinebridge Investments L.P.'s holdings in Carrier Global were worth $3,720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Carrier Global in the fourth quarter valued at approximately $588,029,000. Wealthfront Advisers LLC raised 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 valued at $341,300,000 after buying an additional 4,915,826 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global during the 4th quarter valued at $166,061,000. Raymond James Financial Inc. bought a new position in shares of Carrier Global during the 4th quarter worth $108,433,000. Finally, Invesco Ltd. increased its holdings in Carrier Global by 40.3% in the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after acquiring an additional 1,453,247 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 1.6 %

Shares of NYSE CARR traded up $1.00 during trading hours on Wednesday, hitting $61.82. The company's stock had a trading volume of 5,239,915 shares, compared to its average volume of 4,475,775. Carrier Global Co. has a 12 month low of $54.22 and a 12 month high of $83.32. The stock has a market cap of $53.41 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 2.01 and a beta of 1.33. 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 business has a 50-day simple moving average of $62.97 and a 200-day simple moving average of $68.59.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the company posted $0.53 EPS. On average, analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, May 2nd. Carrier Global's payout ratio is 14.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CARR. Royal Bank of Canada cut their target price on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Barclays cut their price objective 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. Citigroup lowered their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $80.43.

Carrier Global Company 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.