Carrier Global Co. (NYSE:CARR) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Carrier Global Co. (NYSE:CARR – Get Rating) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,454 shares of the company’s stock after acquiring an additional 3,270 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Carrier Global were worth $2,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CARR. Ballentine Partners LLC acquired a new stake in shares of Carrier Global in the third quarter valued at about $223,000. Mirabella Financial Services LLP acquired a new stake in shares of Carrier Global in the third quarter valued at about $398,000. Balentine LLC acquired a new stake in shares of Carrier Global in the third quarter valued at about $214,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Carrier Global in the third quarter valued at about $216,000. Finally, Close Asset Management Ltd lifted its stake in shares of Carrier Global by 0.6% in the third quarter. Close Asset Management Ltd now owns 98,184 shares of the company’s stock valued at $3,494,000 after purchasing an additional 630 shares during the period. Institutional investors and hedge funds own 85.21% of the company’s stock.

Carrier Global Trading Down 4.2 %

NYSE CARR opened at $43.52 on Thursday. The company’s fifty day simple moving average is $43.22 and its 200-day simple moving average is $40.33. Carrier Global Co. has a 52 week low of $33.10 and a 52 week high of $50.29. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 1.16. The stock has a market cap of $36.39 billion, a P/E ratio of 10.51, a PEG ratio of 2.19 and a beta of 1.33.

Carrier Global (NYSE:CARR – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Carrier Global had a net margin of 17.55% and a return on equity of 28.45%. Equities research analysts predict that Carrier Global Co. will post 2.34 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Thursday, December 22nd will be issued a $0.185 dividend. The ex-dividend date is Wednesday, December 21st. This is a boost from Carrier Global’s previous quarterly dividend of $0.15. This represents a $0.74 annualized dividend and a yield of 1.70%. Carrier Global’s dividend payout ratio is currently 17.87%.

Insider Activity at Carrier Global

In related news, insider Jurgen Timperman sold 102,552 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $43.57, for a total value of $4,468,190.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Carrier Global from $48.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Carrier Global from $44.00 to $46.00 in a report on Monday, December 5th. Wells Fargo & Company raised their target price on shares of Carrier Global from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, January 5th. Credit Suisse Group raised their target price on shares of Carrier Global to $42.00 in a report on Tuesday, November 1st. Finally, Cowen dropped their target price on shares of Carrier Global from $58.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, October 31st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.62.

Carrier Global Profile

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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.