Carrier Global Corporation $CARR Position Lifted by M&G PLC

M&G PLC raised its position in shares of Carrier Global Corporation (NYSE:CARR) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 522,777 shares of the company’s stock after acquiring an additional 65,085 shares during the period. M&G PLC owned approximately 0.06% of Carrier Global worth $28,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Carrier Global during the second quarter valued at approximately $590,759,000. Bank of America Corp DE purchased a new position in shares of Carrier Global in the 2nd quarter valued at $572,908,000. Dimensional Fund Advisors LP lifted its holdings in shares of Carrier Global by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after acquiring an additional 246,723 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Carrier Global during the 2nd quarter valued at $322,366,000. Finally, Pictet Asset Management Holding SA increased its holdings in Carrier Global by 15.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,957,152 shares of the company’s stock valued at $217,089,000 after purchasing an additional 536,316 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARR shares. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. BNP Paribas Exane reduced their price target on Carrier Global from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Zacks Research cut Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. The Goldman Sachs Group downgraded shares of Carrier Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $74.00 to $61.00 in a research report on Wednesday, October 14th. Finally, Robert W. Baird lowered their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Price Performance

Shares of NYSE CARR opened at $53.38 on Tuesday. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The business has a 50 day moving average price of $55.77 and a two-hundred day moving average price of $61.65. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a market cap of $43.68 billion, a PE ratio of -24.05, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. Carrier Global’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Sell-side analysts expect that Carrier Global Corporation will post 2.86 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.8%. Carrier Global’s dividend payout ratio is currently -43.24%.

Carrier Global Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.