AlTi Global Inc. Grows Stake in Carrier Global Co. (NYSE:CARR)

AlTi Global Inc. boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 18.2% during the 4th quarter, HoldingsChannel reports. The fund owned 7,916 shares of the company’s stock after purchasing an additional 1,219 shares during the period. AlTi Global Inc.’s holdings in Carrier Global were worth $544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CARR. RFG Advisory LLC raised its holdings in Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the period. Princeton Global Asset Management LLC increased its position in Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,018 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter valued at $2,213,000. Waldron Private Wealth LLC lifted its holdings in shares of Carrier Global by 90.5% in the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after acquiring an additional 7,854 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its stake in shares of Carrier Global by 221.8% during the 4th quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company’s stock worth $705,000 after purchasing an additional 7,118 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $71.60 on Friday. The firm has a market cap of $61.86 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $63.06 and its 200 day moving average is $68.30.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.99 EPS 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. Shareholders of record on Friday, May 2nd will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CARR shares. Wolfe Research raised 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. Citigroup decreased their price target 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 cut their price objective on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada raised their price target on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.86.

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.