Carrier Global Co. (NYSE:CARR) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 99.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,475 shares of the company's stock after selling 533,309 shares during the quarter. Los Angeles Capital Management LLC's holdings in Carrier Global were worth $305,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Carrier Global by 4.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,198 shares of the company's stock valued at $579,000 after acquiring an additional 294 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in shares of Carrier Global during the 3rd quarter worth $237,000. Intact Investment Management Inc. bought a new stake in Carrier Global during the third quarter valued at about $969,000. National Pension Service grew its stake in Carrier Global by 7.8% in the third quarter. National Pension Service now owns 1,898,739 shares of the company's stock valued at $152,830,000 after purchasing an additional 137,971 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Carrier Global by 8.9% in the third quarter. QRG Capital Management Inc. now owns 67,272 shares of the company's stock worth $5,415,000 after purchasing an additional 5,512 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CARR. Royal Bank of Canada lowered their price target on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. Finally, Barclays reduced their target price on Carrier Global from $90.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Five investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.53.

Carrier Global Stock Performance

NYSE CARR traded up $0.45 on Thursday, reaching $65.32. 2,582,178 shares of the company's stock traded hands, compared to its average volume of 5,904,347. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week 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 firm has a market cap of $56.43 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 2.01 and a beta of 1.35. The stock has a 50 day moving average price of $66.80 and a 200-day moving average price of $72.30.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS 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 period in the prior year, the business earned $0.53 EPS. Equities research analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global's payout ratio is 14.33%.

Carrier Global 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.