Bristol Gate Capital Partners Inc. Has $81.65 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Bristol Gate Capital Partners Inc. decreased its position in Carrier Global Co. (NYSE:CARR - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,196,219 shares of the company's stock after selling 325,900 shares during the quarter. Carrier Global comprises 4.0% of Bristol Gate Capital Partners Inc.'s investment portfolio, making the stock its 19th largest holding. Bristol Gate Capital Partners Inc. owned 0.13% of Carrier Global worth $81,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Carrier Global in the 4th quarter worth approximately $588,029,000. Wealthfront Advisers LLC raised its holdings in Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after acquiring an additional 4,915,826 shares during the period. Artisan Partners Limited Partnership acquired a new position in Carrier Global during the 4th quarter worth $166,061,000. Raymond James Financial Inc. bought a new stake in Carrier Global during the fourth quarter valued at about $108,433,000. Finally, Invesco Ltd. grew its position in shares of Carrier Global by 40.3% in the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after purchasing an additional 1,453,247 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CARR shares. Barclays decreased 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. Royal Bank of Canada cut their target price 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. Wells Fargo & Company decreased their price target on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. Finally, Citigroup decreased their target price on Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.33.

Carrier Global Price Performance

Carrier Global stock traded up $0.09 during mid-day trading on Friday, hitting $59.14. 7,161,217 shares of the company were exchanged, compared to its average volume of 4,513,526. Carrier Global Co. has a 1-year low of $53.33 and a 1-year 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. The business has a fifty day moving average of $64.27 and a 200 day moving average of $70.31. The company has a market capitalization of $51.09 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 previous year, the company posted $0.53 earnings per share. As a group, sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

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

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.