Raymond James Financial Inc. Acquires New Position in Carrier Global Co. (NYSE:CARR)

Raymond James Financial Inc. acquired a new stake in Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,588,527 shares of the company’s stock, valued at approximately $108,433,000. Raymond James Financial Inc. owned about 0.18% of Carrier Global as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Carrier Global in the fourth quarter valued at approximately $31,000. Coastline Trust Co acquired a new position in Carrier Global in the third quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global in the third quarter valued at approximately $44,000. Finally, Roxbury Financial LLC acquired a new position in Carrier Global in the fourth quarter valued at approximately $49,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $77.00 to $78.00 in a research note on Wednesday. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Citigroup reduced their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Finally, Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.53.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $67.36 on Friday. Carrier Global Co. has a 12 month low of $53.33 and a 12 month high of $83.32. The stock has a market cap of $58.20 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 2.01 and a beta of 1.35. The stock’s 50 day moving average price is $66.68 and its 200 day moving average price is $72.27. 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 (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the previous year, the business earned $0.53 EPS. Equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

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.