Ethic Inc. Acquires 3,077 Shares of Carrier Global Co. (NYSE:CARR)

Ethic Inc. boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 102,174 shares of the company’s stock after purchasing an additional 3,077 shares during the period. Ethic Inc.’s holdings in Carrier Global were worth $6,974,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CARR. Geode Capital Management LLC boosted its stake in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after acquiring an additional 420,081 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the last quarter. Northern Trust Corp grew its holdings in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after purchasing an additional 1,266,137 shares during the period. Norges Bank purchased a new stake in Carrier Global in the fourth quarter worth $588,029,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Carrier Global by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company’s stock valued at $415,078,000 after buying an additional 126,174 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Friday. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Barclays lifted their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 report on Monday, February 24th. Four 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.53.

Carrier Global Price Performance

Carrier Global stock opened at $71.44 on Friday. The stock has a market cap of $61.25 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $63.72 and a 200 day simple moving average of $68.02. Carrier Global Co. has a 52 week low of $54.22 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. Carrier Global’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. On average, research analysts forecast 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. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s dividend payout ratio is currently 13.93%.

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.