Carrier Global Corporation $CARR Holdings Raised by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its stake in Carrier Global Corporation (NYSE:CARR) by 32.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 455,158 shares of the company’s stock after acquiring an additional 112,365 shares during the period. Eurizon Capital SGR S.p.A. owned 0.06% of Carrier Global worth $24,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Carrier Global during the 2nd quarter valued at about $590,759,000. Bank of America Corp DE acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP raised its stake in shares of Carrier Global by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after buying an additional 246,723 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Carrier Global during the second quarter worth approximately $322,366,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Carrier Global by 15.7% in the third quarter. Pictet Asset Management Holding SA now owns 3,957,152 shares of the company’s stock valued at $217,089,000 after buying an additional 536,316 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CARR shares. Sanford C. Bernstein cut their target price on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday, October 7th. Mizuho lowered their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. The Goldman Sachs Group downgraded Carrier Global from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $74.00 to $61.00 in a research note on Wednesday, October 14th. Royal Bank Of Canada reduced their target price on Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Finally, Deutsche Bank decreased their target price on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Price Performance

NYSE:CARR opened at $54.23 on Friday. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s 50-day simple moving average is $55.45 and its 200 day simple moving average is $61.59. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of -24.43, a P/E/G ratio of 2.00 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is currently -43.24%.

About Carrier Global

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.