Dimensional Fund Advisors LP Reduces Holdings in Carrier Global Co. (NYSE:CARR)

Dimensional Fund Advisors LP lessened its holdings in Carrier Global Co. (NYSE:CARR) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 6,927,257 shares of the company’s stock after selling 130,774 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Carrier Global were worth $344,355,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its stake in Carrier Global by 29.2% in the 1st quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after buying an additional 3,700 shares in the last quarter. Panagora Asset Management Inc. increased its position in Carrier Global by 40.1% during the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after buying an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Carrier Global by 23.2% in the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after acquiring an additional 1,412 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Carrier Global by 22.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after acquiring an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock valued at $36,078,000 after acquiring an additional 75,622 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 3.7 %

CARR opened at $52.81 on Wednesday. The company has a market cap of $44.31 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.25 and a current ratio of 1.66. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.04. The firm has a 50 day moving average price of $52.58 and a 200 day moving average price of $50.73.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.89 billion. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.71 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, October 27th will be paid a $0.185 dividend. The ex-dividend date is Thursday, October 26th. This represents a $0.74 annualized dividend and a dividend yield of 1.40%. Carrier Global’s dividend payout ratio (DPR) is presently 52.48%.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Carrier Global from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Barclays boosted their price objective on shares of Carrier Global from $54.00 to $63.00 in a research report on Friday, July 28th. Bank of America lowered shares of Carrier Global from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $62.00 to $55.00 in a research report on Thursday, October 5th. JPMorgan Chase & Co. downgraded Carrier Global from a “neutral” rating to an “underweight” rating and set a $53.00 price target for the company. in a report on Friday, October 6th. Finally, Mizuho lowered Carrier Global from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $63.00 to $61.00 in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.63.

Carrier Global Company Profile

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.