Envestnet Asset Management Inc. Boosts Position in Carrier Global Co. (NYSE:CARR)

Envestnet Asset Management Inc. boosted its position in Carrier Global Co. (NYSE:CARR) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,346,428 shares of the company’s stock after purchasing an additional 126,318 shares during the period. Envestnet Asset Management Inc.’s holdings in Carrier Global were worth $160,167,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CARR. Norges Bank purchased a new position in shares of Carrier Global in the fourth quarter worth approximately $588,029,000. Wealthfront Advisers LLC raised its position in Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after acquiring an additional 4,915,826 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global during the 4th quarter worth $166,061,000. Raymond James Financial Inc. purchased a new position in shares of Carrier Global during the 4th quarter worth $108,433,000. Finally, OFI Invest Asset Management bought a new stake in shares of Carrier Global during the 4th quarter valued at $43,589,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CARR shares. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $78.00 in a research note on Wednesday, March 5th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday, February 14th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Finally, Barclays lowered their price target on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.27.

Carrier Global Stock Down 0.8 %

CARR opened at $56.73 on Tuesday. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. 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 firm has a 50-day simple moving average of $65.06 and a two-hundred day simple moving average of $71.09. The company has a market capitalization of $49.01 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS 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 firm earned $0.53 earnings per share. Analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

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.