Carrier Global Corporation $CARR Position Lifted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 32.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 455,158 shares of the company’s stock after buying an additional 112,365 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Carrier Global were worth $24,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van Hulzen Asset Management LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $1,992,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Carrier Global by 269.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 118,806 shares of the company’s stock valued at $6,646,000 after buying an additional 86,665 shares during the period. Reynders McVeigh Capital Management LLC raised its position in shares of Carrier Global by 3.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company’s stock worth $67,351,000 after acquiring an additional 27,061 shares during the last quarter. Cohen Klingenstein LLC raised its position in shares of Carrier Global by 317.2% during the third quarter. Cohen Klingenstein LLC now owns 190,538 shares of the company’s stock worth $10,453,000 after acquiring an additional 144,870 shares during the last quarter. Finally, Cardinal Capital Management Inc. lifted its stake in shares of Carrier Global by 7.1% in the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock worth $42,201,000 after acquiring an additional 37,934 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price target on Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. The Goldman Sachs Group downgraded Carrier Global from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $61.00 in a research note on Wednesday, October 14th. BNP Paribas Exane lowered their target price on Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Mizuho dropped their price target on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Finally, Sanford C. Bernstein cut their price target on Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday, October 7th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.27.

Carrier Global Stock Down 0.3%

Carrier Global stock opened at $54.23 on Friday. The stock has a market cap of $44.37 billion, a PE ratio of -24.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s 50-day simple moving average is $55.45 and its 200 day simple moving average is $61.59. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts predict that Carrier Global Corporation will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.