National Bank of Canada FI Reduces Position in Carrier Global Co. (NYSE:CARR)

National Bank of Canada FI cut its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 382,583 shares of the company's stock after selling 163,283 shares during the period. National Bank of Canada FI's holdings in Carrier Global were worth $26,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. BOK Financial Private Wealth Inc. boosted its position in 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 buying an additional 160 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in Carrier Global during the 4th quarter worth about $31,000. Meeder Asset Management Inc. raised its position in Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after purchasing an additional 340 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Carrier Global in the 4th quarter valued at about $49,000. Finally, Roxbury Financial LLC acquired a new position in shares of Carrier Global during the fourth quarter worth about $49,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARR. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a "buy" rating and a $96.00 price target for the company. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Mizuho upgraded Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price target on the stock in a research note on Friday, February 14th. 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. Finally, JPMorgan Chase & Co. raised Carrier Global from a "neutral" rating to an "overweight" rating and upped their target price for the company 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $82.27.

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Carrier Global Price Performance

CARR stock traded up $0.77 during midday trading on Tuesday, hitting $57.60. 1,519,648 shares of the stock were exchanged, compared to its average volume of 5,598,304. 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 stock has a market cap of $49.77 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The stock's 50-day moving average price is $65.06 and its 200-day moving average price is $71.09.

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 (EPS) for the quarter, topping 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 quarter in the prior year, the firm posted $0.53 earnings per share. Research analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current year.

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.