Carrier Global Co. (NYSE:CARR) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913,567 shares of the company’s stock after selling 31,605 shares during the period. Capital Group Private Client Services Inc. owned 0.10% of Carrier Global worth $62,360,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Carrier Global in the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC increased its position in Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after purchasing an additional 4,915,826 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Carrier Global during the fourth quarter worth approximately $166,061,000. Raymond James Financial Inc. purchased a new stake in shares of Carrier Global during the 4th quarter valued at $108,433,000. Finally, Invesco Ltd. increased its holdings in shares of Carrier Global by 40.3% during the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock worth $345,201,000 after buying an additional 1,453,247 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 1.2 %

Shares of CARR stock opened at $59.87 on Friday. The business’s fifty day moving average is $63.87 and its 200-day moving average is $69.82. 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 $51.73 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the business posted $0.53 earnings per share. Equities analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.50%. Carrier Global’s dividend payout ratio is currently 14.33%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Citigroup cut their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price target 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. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Five equities research 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. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $80.13.

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.