Carrier Global Corporation $CARR Shares Acquired by Welch Group LLC

Welch Group LLC boosted its position in shares of Carrier Global Corporation (NYSE:CARR) by 10.3% in the third quarter, HoldingsChannel.com reports. The fund owned 169,400 shares of the company’s stock after acquiring an additional 15,755 shares during the quarter. Welch Group LLC’s holdings in Carrier Global were worth $9,293,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CARR. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Carrier Global in the 3rd quarter worth about $12,058,000. ProShare Advisors LLC increased its stake in shares of Carrier Global by 7.0% in the 3rd quarter. ProShare Advisors LLC now owns 127,970 shares of the company’s stock worth $7,020,000 after acquiring an additional 8,322 shares during the last quarter. Vise Technologies Inc. raised its stake in Carrier Global by 7.4% during the third quarter. Vise Technologies Inc. now owns 36,856 shares of the company’s stock worth $2,022,000 after purchasing an additional 2,524 shares during the period. Cidel Asset Management Inc. raised its position in shares of Carrier Global by 11.8% during the 3rd quarter. Cidel Asset Management Inc. now owns 5,761 shares of the company’s stock valued at $316,000 after buying an additional 607 shares during the period. Finally, Americana Partners LLC lifted its stake in shares of Carrier Global by 81.3% in the 3rd quarter. Americana Partners LLC now owns 13,471 shares of the company’s stock valued at $739,000 after purchasing an additional 6,039 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the subject of a number of research reports. BNP Paribas Exane dropped their price objective on shares of Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday. Sanford C. Bernstein decreased their target price on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings cut shares of Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. Finally, Robert W. Baird decreased their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $53.45 on Monday. The company has a market cap of $43.73 billion, a PE ratio of -24.07, a P/E/G ratio of 1.83 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $56.37 and a 200-day simple moving average of $61.71. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, equities research analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global Dividend Announcement

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

About Carrier Global

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.