Geode Capital Management LLC Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Geode Capital Management LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,357,770 shares of the company's stock after purchasing an additional 420,081 shares during the period. Geode Capital Management LLC owned 1.93% of Carrier Global worth $1,181,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Carrier Global during the 4th quarter valued at approximately $588,029,000. Wealthfront Advisers LLC boosted its position in shares of Carrier Global by 5,840.1% during the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after acquiring an additional 4,915,826 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global in the fourth quarter valued at $166,061,000. Zurich Insurance Group Ltd FI bought a new stake in Carrier Global in the third quarter worth $130,479,000. Finally, Raymond James Financial Inc. purchased a new stake in Carrier Global during the fourth quarter valued at $108,433,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price on the stock. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Monday, February 24th. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Mizuho upgraded Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price target on the stock in a report on Friday, February 14th. Finally, Royal Bank of Canada dropped their price objective 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 investment 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 company's stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and an average target price of $82.27.

Remove Ads

Carrier Global Trading Down 6.0 %

CARR traded down $3.66 during trading on Friday, hitting $57.06. 6,933,810 shares of the stock were exchanged, compared to its average volume of 4,442,539. 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 50 day simple moving average of $65.27 and a 200 day simple moving average of $71.31. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32.

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 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 last year, the company earned $0.53 EPS. As a group, equities analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

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.