Adage Capital Partners GP L.L.C. Sells 384,998 Shares of Carrier Global Co. (NYSE:CARR)

Adage Capital Partners GP L.L.C. trimmed its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 57.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,598 shares of the company's stock after selling 384,998 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Carrier Global were worth $19,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after acquiring an additional 143 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after purchasing an additional 147 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Carrier Global by 6.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company's stock valued at $176,000 after purchasing an additional 150 shares in the last quarter. Syon Capital LLC lifted its position in Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after purchasing an additional 155 shares during the period. Finally, BOK Financial Private Wealth Inc. boosted its stake in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Down 0.4 %

CARR stock opened at $60.05 on Friday. The business has a fifty day moving average of $63.21 and a 200-day moving average of $68.87. The company has a market cap of $51.88 billion, a P/E ratio of 9.56, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the firm posted $0.53 EPS. As a group, equities research analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, May 2nd. Carrier Global's dividend payout ratio is presently 14.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CARR shares. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. Mizuho set a $72.00 price target on shares of Carrier Global in a research note on Tuesday. Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Finally, Citigroup decreased their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $79.73.

Carrier Global Company Profile

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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Co. (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.