Capital Group Private Client Services Inc. Sells 31,605 Shares of Carrier Global Co. (NYSE:CARR)

Capital Group Private Client Services Inc. reduced its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 913,567 shares of the company's stock after selling 31,605 shares during the quarter. Capital Group Private Client Services Inc. owned approximately 0.10% of Carrier Global worth $62,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Carrier Global by 10.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,077,219 shares of the company's stock worth $73,533,000 after acquiring an additional 106,145 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Carrier Global in the fourth quarter valued at about $446,000. MSH Capital Advisors LLC bought a new stake in shares of Carrier Global during the 4th quarter worth about $276,000. Marshall Wace LLP lifted its position in Carrier Global by 1,726.6% during the fourth quarter. Marshall Wace LLP now owns 700,145 shares of the company's stock worth $47,792,000 after acquiring an additional 661,815 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Carrier Global by 12.5% during the 4th quarter. NewEdge Advisors LLC now owns 40,714 shares of the company's stock worth $2,779,000 after purchasing an additional 4,525 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Carrier Global from $78.00 to $64.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company dropped their price target on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note 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 price objective on the stock in a research note on Monday, February 24th. Finally, Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price for the company in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $80.13.

Carrier Global Price Performance

Shares of CARR traded up $0.15 during trading hours on Wednesday, reaching $59.62. The stock had a trading volume of 3,163,082 shares, compared to its average volume of 4,514,875. The stock has a market capitalization of $51.51 billion, a PE ratio of 9.49, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 12 month low of $53.66 and a 12 month 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 company's 50-day moving average is $63.57 and its two-hundred day moving average is $69.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating 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 quarter last year, the business earned $0.53 EPS. 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 1.51%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global's payout ratio is 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.