Aberdeen Group plc Has $44.85 Million Stake in Carrier Global Corporation (NYSE:CARR)

Aberdeen Group plc lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 1.8% during the 1st quarter, HoldingsChannel reports. The fund owned 717,658 shares of the company’s stock after purchasing an additional 12,346 shares during the period. Aberdeen Group plc’s holdings in Carrier Global were worth $44,854,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CARR. Nuveen LLC acquired a new stake in shares of Carrier Global during the 1st quarter valued at $649,512,000. JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Carrier Global by 16.7% during the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Carrier Global by 2,484.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company’s stock valued at $76,625,000 after acquiring an additional 1,079,103 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director directly owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CARR. Melius started coverage on Carrier Global in a report on Tuesday, July 1st. They set a “hold” rating and a $90.00 price objective on the stock. Royal Bank Of Canada cut their target price on Carrier Global from $89.00 to $87.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, May 9th. Citigroup reaffirmed a “buy” rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Melius Research raised Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $84.47.

Carrier Global Stock Down 0.5%

Shares of NYSE:CARR opened at $65.44 on Friday. The company has a market capitalization of $55.69 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The business’s 50-day moving average is $72.32 and its 200-day moving average is $68.11. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global’s payout ratio is presently 19.61%.

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.