Choate Investment Advisors Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Choate Investment Advisors grew its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,661 shares of the company's stock after acquiring an additional 4,906 shares during the quarter. Choate Investment Advisors' holdings in Carrier Global were worth $1,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. BOK Financial Private Wealth Inc. increased its holdings in shares of Carrier Global by 80.0% in the 4th 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 period. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the 3rd quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth $31,000. Coastline Trust Co acquired a new stake in shares of Carrier Global in the 3rd quarter worth $37,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth $49,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $1.31 during trading on Thursday, reaching $66.37. 4,354,609 shares of the company traded hands, compared to its average volume of 4,245,620. The firm's fifty day simple moving average is $66.36 and its 200 day simple moving average is $72.01. The stock has a market cap of $57.34 billion, a P/E ratio of 10.57, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 12-month low of $53.33 and a 12-month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

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Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.53 earnings per share. As a group, research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CARR shares. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They issued a "buy" rating and a $96.00 price objective for the company. Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. Royal Bank of Canada lowered their price target on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Barclays lowered their price target on Carrier Global from $90.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Carrier Global from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $82.53.

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.