Lake Street Advisors Group LLC grew its holdings in Carrier Global Co. (NYSE:CARR – Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,716 shares of the company’s stock after purchasing an additional 219 shares during the period. Lake Street Advisors Group LLC’s holdings in Carrier Global were worth $1,129,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Carrier Global by 98,174.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,790,574,025 shares of the company’s stock valued at $89,009,435,000 after acquiring an additional 1,788,752,009 shares in the last quarter. State Street Corp lifted its stake in shares of Carrier Global by 0.6% in the 1st quarter. State Street Corp now owns 33,147,448 shares of the company’s stock valued at $1,516,493,000 after purchasing an additional 206,839 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after purchasing an additional 15,330,140 shares during the period. Geode Capital Management LLC increased its position in Carrier Global by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock valued at $793,207,000 after buying an additional 342,215 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Carrier Global by 15.3% in the 2nd quarter. Fisher Asset Management LLC now owns 12,553,913 shares of the company’s stock valued at $624,313,000 after buying an additional 1,661,747 shares in the last quarter. Institutional investors own 91.47% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on Carrier Global from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd. UBS Group upped their price target on shares of Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, September 8th. JPMorgan Chase & Co. cut shares of Carrier Global from a “neutral” rating to an “underweight” rating and set a $53.00 price target on the stock. in a report on Friday, October 6th. Oppenheimer decreased their price target on shares of Carrier Global from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. Finally, Argus increased their target price on Carrier Global from $52.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.63.
Carrier Global Stock Up 1.0 %
CARR traded up $0.54 on Friday, hitting $53.22. The company had a trading volume of 2,855,544 shares, compared to its average volume of 5,072,822. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.66 and a quick ratio of 1.25. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.04. The stock has a fifty day simple moving average of $52.30 and a 200-day simple moving average of $50.84. The firm has a market capitalization of $44.65 billion, a P/E ratio of 37.74, a P/E/G ratio of 1.82 and a beta of 1.45.
Carrier Global (NYSE:CARR – Get Free Report) last released its earnings results on Thursday, October 26th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.11. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that Carrier Global Co. will post 2.71 EPS for the current fiscal year.
Carrier Global Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, October 27th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, October 26th. Carrier Global’s dividend payout ratio (DPR) is currently 52.48%.
Carrier Global 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.
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