Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Carrier Global Co. (NYSE:CARR) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,770 shares of the company’s stock after selling 11,662 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Carrier Global were worth $12,669,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its holdings in Carrier Global by 0.7% during the 3rd quarter. Forsta AP Fonden now owns 202,400 shares of the company’s stock valued at $10,476,000 after purchasing an additional 1,500 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Carrier Global by 42.4% during the third quarter. Orion Portfolio Solutions LLC now owns 6,960 shares of the company’s stock worth $360,000 after buying an additional 2,072 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of Carrier Global by 17.0% during the third quarter. NN Investment Partners Holdings N.V. now owns 423,395 shares of the company’s stock worth $21,914,000 after buying an additional 61,660 shares in the last quarter. Glassman Wealth Services increased its position in shares of Carrier Global by 238.1% in the third quarter. Glassman Wealth Services now owns 3,310 shares of the company’s stock worth $171,000 after purchasing an additional 2,331 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Carrier Global by 1.9% in the third quarter. Teacher Retirement System of Texas now owns 543,710 shares of the company’s stock worth $28,142,000 after purchasing an additional 10,106 shares during the period. 84.55% of the stock is owned by institutional investors.
A number of research firms have issued reports on CARR. Morgan Stanley decreased their target price on Carrier Global from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft cut Carrier Global from a “buy” rating to a “hold” rating and reduced their price target for the stock from $58.00 to $56.00 in a report on Thursday, December 9th. Mizuho started coverage on Carrier Global in a report on Thursday, December 16th. They set a “neutral” rating and a $57.00 price target on the stock. Royal Bank of Canada reduced their price target on Carrier Global from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Finally, Credit Suisse Group boosted their price target on Carrier Global from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 29th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.06.
Shares of CARR opened at $51.10 on Friday. Carrier Global Co. has a 52-week low of $34.21 and a 52-week high of $58.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.54 and a current ratio of 1.86. The business’s 50 day moving average price is $54.25 and its two-hundred day moving average price is $53.71. The firm has a market cap of $44.28 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91.
Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. Carrier Global had a return on equity of 27.46% and a net margin of 11.08%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Research analysts predict that Carrier Global Co. will post 2.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 10th. Shareholders of record on Thursday, December 23rd will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 22nd. This is a positive change from Carrier Global’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.17%. Carrier Global’s payout ratio is 23.90%.
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 and cooling needs of residential and commercial customers.
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