Westpac Banking Corp lowered its position in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 82.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,349 shares of the company’s stock after selling 126,506 shares during the period. Westpac Banking Corp’s holdings in Carrier Global were worth $1,310,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CARR. Knuff & Co LLC bought a new position in Carrier Global during the 2nd quarter valued at approximately $25,000. Covestor Ltd raised its stake in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after buying an additional 303 shares in the last quarter. Avalon Trust Co bought a new position in Carrier Global in the second quarter worth about $27,000. WealthPLAN Partners LLC bought a new position in Carrier Global in the first quarter worth $29,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Carrier Global during the 2nd quarter valued at $29,000. Institutional investors own 91.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on CARR shares. JPMorgan Chase & Co. cut shares of Carrier Global from a “neutral” rating to an “underweight” rating and set a $53.00 price objective on the stock. in a report on Friday, October 6th. UBS Group raised their price target on Carrier Global from $47.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, September 8th. Wolfe Research lowered shares of Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 price objective for the company. in a research note on Thursday, October 12th. Mizuho downgraded shares of Carrier Global from a “buy” rating to a “neutral” rating and reduced their price target for the company from $63.00 to $61.00 in a research report on Thursday, September 14th. Finally, TD Cowen raised their price target on shares of Carrier Global from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus price target of $57.63.
Carrier Global Stock Performance
Shares of NYSE CARR opened at $53.22 on Friday. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.04. The firm has a 50 day moving average of $52.30 and a 200 day moving average of $50.84. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45.
Carrier Global (NYSE:CARR – Get Free Report) last released its quarterly 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 return on equity of 26.60% and a net margin of 5.43%. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Carrier Global’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that Carrier Global Co. will post 2.71 earnings per share for the current year.
Carrier Global Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, October 27th will be given a $0.185 dividend. The ex-dividend date is Thursday, October 26th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.39%. Carrier Global’s payout ratio 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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