Carrier Global Corporation $CARR Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 57.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 662,032 shares of the company’s stock after acquiring an additional 242,787 shares during the period. Fifth Third Bancorp’s holdings in Carrier Global were worth $36,319,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Johnson Financial Group Inc. purchased a new position in Carrier Global during the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global in the second quarter valued at about $26,000. Latitude Advisors LLC purchased a new stake in shares of Carrier Global in the third quarter valued at about $27,000. Financial Management Professionals Inc. lifted its position in shares of Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Finally, Downshift Financial LLC lifted its position in shares of Carrier Global by 69.5% during the third quarter. Downshift Financial LLC now owns 517 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.4%

Shares of Carrier Global stock opened at $54.38 on Friday. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The firm has a market cap of $44.49 billion, a PE ratio of 20.67, a P/E/G ratio of 2.01 and a beta of 1.33. The stock has a fifty day moving average price of $55.54 and a 200-day moving average price of $61.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68.

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 company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. Equities research analysts anticipate that Carrier Global Corporation will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CARR shares. The Goldman Sachs Group cut shares of Carrier Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $61.00 in a report on Wednesday, October 14th. JPMorgan Chase & Co. decreased their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Royal Bank Of Canada cut their target price on Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Finally, Wells Fargo & Company reduced their target price on Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.27.

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.