Reynders McVeigh Capital Management LLC Has $62.22 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Reynders McVeigh Capital Management LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 911,495 shares of the company’s stock after selling 23,315 shares during the period. Carrier Global makes up 3.3% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Reynders McVeigh Capital Management LLC’s holdings in Carrier Global were worth $62,219,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BOK Financial Private Wealth Inc. increased its stake in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $31,000. Meeder Asset Management Inc. lifted its holdings in Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after acquiring an additional 340 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Carrier Global in the fourth quarter worth $42,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CARR. Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Friday, February 14th. Barclays reduced their price objective on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Up 0.1 %

Shares of CARR opened at $59.14 on Friday. The business’s 50 day moving average is $64.27 and its 200 day moving average is $70.31. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 12-month low of $53.33 and a 12-month high of $83.32. The company has a market capitalization of $51.09 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 quarter last year, the business earned $0.53 earnings per share. Research analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

About Carrier Global

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.