Advisory Services Network LLC Increases Stake in Carrier Global Co. (NYSE:CARR)

Advisory Services Network LLC lifted its stake in Carrier Global Co. (NYSE:CARR) by 15.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,536 shares of the company’s stock after buying an additional 2,177 shares during the quarter. Advisory Services Network LLC’s holdings in Carrier Global were worth $1,129,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after buying an additional 143 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after acquiring an additional 147 shares during the last quarter. Hanson & Doremus Investment Management grew its holdings in shares of Carrier Global by 6.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company’s stock valued at $176,000 after purchasing an additional 150 shares in the last quarter. BOK Financial Private Wealth Inc. increased its position in Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC increased its position in Carrier Global by 2.8% in the third quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company’s stock worth $480,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective 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. Citigroup dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, February 24th. Finally, Barclays cut their target price 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. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Price Performance

Carrier Global stock opened at $59.14 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market cap of $51.09 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The firm has a 50-day moving average of $64.27 and a two-hundred day moving average of $70.25. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.53 earnings per share. On average, research analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.52%. Carrier Global’s dividend payout ratio is currently 14.33%.

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.