Primecap Management Co. CA Purchases 291,350 Shares of Carrier Global Co. (NYSE:CARR)

Primecap Management Co. CA grew its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374,582 shares of the company's stock after acquiring an additional 291,350 shares during the quarter. Primecap Management Co. CA owned 0.26% of Carrier Global worth $162,089,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CARR. BOK Financial Private Wealth Inc. increased its holdings in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after acquiring an additional 160 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the third quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth about $31,000. Roxbury Financial LLC acquired a new position in shares of Carrier Global during the fourth quarter worth about $49,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth about $49,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on 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. Barclays reduced their price objective on Carrier Global from $90.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised Carrier Global from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their price target on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Finally, Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.53.

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Carrier Global Stock Performance

Shares of CARR traded down $0.28 during mid-day trading on Friday, reaching $66.15. The company's stock had a trading volume of 11,027,218 shares, compared to its average volume of 4,265,199. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The stock has a market cap of $57.15 billion, a P/E ratio of 10.53, a PEG ratio of 2.01 and a beta of 1.35. The business has a 50-day simple moving average of $66.32 and a two-hundred day simple moving average of $71.92. 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 released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (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 period in the previous year, the business earned $0.53 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

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.