Harvest Fund Management Co. Ltd Grows Position in Carrier Global Co. (NYSE:CARR)

Harvest Fund Management Co. Ltd increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 50.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,200 shares of the company’s stock after purchasing an additional 1,077 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Carrier Global were worth $184,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after acquiring an additional 289,973 shares during the period. FMR LLC lifted its stake in shares of Carrier Global by 18.3% during the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after purchasing an additional 1,033,484 shares in the last quarter. C WorldWide Group Holding A S purchased a new stake in shares of Carrier Global in the third quarter worth about $260,761,000. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock valued at $258,438,000 after buying an additional 521,189 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Carrier Global by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,576,177 shares of the company’s stock valued at $252,605,000 after buying an additional 26,425 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 4.2 %

CARR stock opened at $57.09 on Thursday. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.33 and a beta of 1.39. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87. The firm has a fifty day moving average price of $56.34 and a two-hundred day moving average price of $54.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Research analysts predict that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is 48.10%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a report on Thursday, April 18th. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price target on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada dropped their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.15.

Insider Buying and Selling

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

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.