Capital Group Investment Management PTE. LTD. Sells 6,588 Shares of Carrier Global Co. (NYSE:CARR)

Capital Group Investment Management PTE. LTD. reduced its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,948 shares of the company's stock after selling 6,588 shares during the quarter. Carrier Global accounts for about 1.4% of Capital Group Investment Management PTE. LTD.'s investment portfolio, making the stock its 17th largest position. Capital Group Investment Management PTE. LTD.'s holdings in Carrier Global were worth $7,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. BOK Financial Private Wealth Inc. grew its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global in the 4th quarter worth $31,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after purchasing an additional 340 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Carrier Global during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on Carrier Global from $87.00 to $83.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Citigroup decreased their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada dropped their target price 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. Five investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.13.

Carrier Global Stock Up 0.3 %

Shares of NYSE CARR traded up $0.15 on Wednesday, reaching $59.62. 3,163,082 shares of the company's stock traded hands, compared to its average volume of 4,514,875. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The business's 50 day simple moving average is $63.57 and its two-hundred day simple moving average is $69.32. Carrier Global Co. has a 12 month low of $53.66 and a 12 month high of $83.32. The company has a market cap of $51.51 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities research analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal 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 paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.51%. Carrier Global's dividend payout ratio is 14.33%.

Carrier Global 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.