Iron Gate Global Advisors LLC Acquires Shares of 13,501 Carrier Global Co. (NYSE:CARR)

Iron Gate Global Advisors LLC acquired a new position in Carrier Global Co. (NYSE:CARR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,501 shares of the company's stock, valued at approximately $927,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC increased its stake in shares of Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock worth $977,028,000 after buying an additional 46,222 shares during the period. Norges Bank bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $588,029,000. Pictet Asset Management Holding SA boosted its stake in shares of Carrier Global by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company's stock valued at $415,078,000 after purchasing an additional 126,174 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Carrier Global by 40.3% in the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after purchasing an additional 1,453,247 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CARR shares. Wells Fargo & Company cut their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Citigroup reduced their price objective on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays decreased their target price on Carrier Global from $87.00 to $83.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, 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 report on Monday, February 24th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $80.13.

Carrier Global Trading Down 3.5 %

Shares of NYSE CARR traded down $2.07 during mid-day trading on Monday, reaching $57.83. The company had a trading volume of 1,006,010 shares, compared to its average volume of 4,519,201. Carrier Global Co. has a 52 week low of $53.50 and a 52 week high of $83.32. The stock has a market cap of $49.96 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The business's 50-day moving average is $63.76 and its 200-day moving average is $69.54. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

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

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be paid a $0.225 dividend. 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 1.56%. Carrier Global's dividend payout ratio (DPR) is 14.33%.

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.