Ilmarinen Mutual Pension Insurance Co Makes New Investment in Carrier Global Co. (NYSE:CARR)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in Carrier Global Co. (NYSE:CARR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 143,000 shares of the company's stock, valued at approximately $9,761,000.

A number of other hedge funds have also modified their holdings of the business. BOK Financial Private Wealth Inc. boosted its stake in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after buying an additional 160 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global during the 4th quarter valued at approximately $31,000. Meeder Asset Management Inc. boosted its stake in shares of Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after acquiring an additional 340 shares in the last quarter. Roxbury Financial LLC acquired a new position in Carrier Global during the fourth quarter worth $49,000. Finally, Centricity Wealth Management LLC purchased a new stake in Carrier Global during the fourth quarter worth $49,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock traded up $0.19 during trading on Friday, hitting $59.24. 2,139,684 shares of the company's stock traded hands, compared to its average volume of 4,488,241. The stock has a market capitalization of $51.18 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. The stock has a fifty day moving average price of $64.36 and a two-hundred day moving average price of $70.46. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Remove Ads

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the business earned $0.53 EPS. As a group, equities analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, May 2nd. Carrier Global's dividend payout ratio (DPR) is 14.33%.

Wall Street Analysts Forecast Growth

CARR has been the subject of several analyst reports. Royal Bank of Canada cut their price target on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday. Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price for the company in a report on Friday, February 14th. Wolfe Research raised shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Monday, February 24th. Finally, Citigroup lowered their price objective on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.33.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.