Capital World Investors Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Capital World Investors lessened its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,813,522 shares of the company's stock after selling 2,696,104 shares during the quarter. Capital World Investors owned about 4.99% of Carrier Global worth $3,058,967,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CARR. Geode Capital Management LLC boosted its stake in Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Carrier Global by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock worth $977,028,000 after acquiring an additional 46,222 shares in the last quarter. Norges Bank bought a new stake in Carrier Global in the 4th quarter worth about $588,029,000. Pictet Asset Management Holding SA increased its stake in Carrier Global by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company's stock valued at $415,078,000 after buying an additional 126,174 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Carrier Global by 40.3% during the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after buying an additional 1,453,247 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CARR. Mizuho raised 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. JPMorgan Chase & Co. decreased their target price on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of 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 upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. Finally, Royal Bank of Canada decreased their price target on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Five research 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 stock. According to data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and a consensus price target of $80.13.

Carrier Global Price Performance

Carrier Global stock traded up $1.81 during midday trading on Thursday, reaching $60.41. 2,561,834 shares of the stock were exchanged, compared to its average volume of 5,621,824. Carrier Global Co. has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The firm has a market cap of $52.19 billion, a PE ratio of 9.62, a PEG ratio of 2.01 and a beta of 1.33. The company's fifty day moving average is $63.44 and its 200-day moving average is $69.24.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results 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 period in the previous year, the company earned $0.53 EPS. On average, sell-side analysts forecast that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed 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 1.49%. The ex-dividend date is Friday, May 2nd. Carrier Global's payout ratio is 14.33%.

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.