Jacobs Levy Equity Management Inc. Has $76.63 Million Stake in Carrier Global Co. (NYSE:CARR)

Jacobs Levy Equity Management Inc. boosted its holdings in Carrier Global Co. (NYSE:CARR) by 2,484.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,122,545 shares of the company’s stock after acquiring an additional 1,079,103 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Carrier Global were worth $76,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. raised its position in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Carrier Global during the fourth quarter worth $31,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock valued at $33,000 after buying an additional 340 shares during the period. Finally, Transce3nd LLC bought a new stake in shares of Carrier Global in the 4th quarter valued at $37,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CARR shares. Barclays boosted their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday. 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 note on Monday, February 24th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Four 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.53.

Carrier Global Trading Up 1.3 %

Shares of NYSE:CARR opened at $71.44 on Friday. The stock has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company’s 50-day moving average price is $63.72 and its two-hundred day moving average price is $67.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a one year low of $54.22 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Carrier Global’s payout ratio is 13.93%.

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.