JPMorgan Chase & Co. boosted its holdings in Carrier Global Co. (NYSE:CARR – Get Rating) by 21.4% in the second quarter, HoldingsChannel.com reports. The firm owned 3,084,474 shares of the company’s stock after buying an additional 543,258 shares during the quarter. JPMorgan Chase & Co.’s holdings in Carrier Global were worth $109,993,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 303 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $28,000. Denali Advisors LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $29,000. Core Alternative Capital boosted its holdings in shares of Carrier Global by 119.6% in the second quarter. Core Alternative Capital now owns 953 shares of the company’s stock valued at $34,000 after acquiring an additional 519 shares during the period. Finally, Arlington Partners LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $37,000. 85.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. KeyCorp increased their price objective on Carrier Global from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, September 6th. Wells Fargo & Company increased their price objective on Carrier Global from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, August 1st. Cowen decreased their price objective on Carrier Global from $58.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on Carrier Global from $45.00 to $43.00 and set a “hold” rating for the company in a report on Thursday, October 13th. Finally, Cowen cut their price target on Carrier Global from $58.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and an average price target of $45.50.
Carrier Global Price Performance
Carrier Global (NYSE:CARR – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Carrier Global had a return on equity of 28.45% and a net margin of 17.55%. Equities analysts predict that Carrier Global Co. will post 2.34 earnings per share for the current year.
Carrier Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, October 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, October 27th. Carrier Global’s payout ratio is 14.49%.
About Carrier Global
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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