Russell Investments Group Ltd. Acquires 280,843 Shares of Carrier Global Co. (NYSE:CARR)

Russell Investments Group Ltd. grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 19.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,748,963 shares of the company’s stock after acquiring an additional 280,843 shares during the period. Russell Investments Group Ltd.’s holdings in Carrier Global were worth $119,377,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in Carrier Global in the third quarter worth approximately $3,497,000. IHT Wealth Management LLC increased its stake in shares of Carrier Global by 139.7% during the third quarter. IHT Wealth Management LLC now owns 10,991 shares of the company’s stock valued at $883,000 after buying an additional 6,405 shares during the period. Morse Asset Management Inc bought a new stake in shares of Carrier Global in the third quarter valued at about $201,000. Royal London Asset Management Ltd. lifted its stake in Carrier Global by 1.8% in the third quarter. Royal London Asset Management Ltd. now owns 373,079 shares of the company’s stock worth $30,029,000 after acquiring an additional 6,727 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in Carrier Global by 116.9% in the third quarter. Quantinno Capital Management LP now owns 47,906 shares of the company’s stock worth $3,856,000 after acquiring an additional 25,822 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $78.00 in a report on Wednesday, March 5th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, February 24th. Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Friday, February 14th. Five 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. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.27.

Carrier Global Stock Down 6.0 %

NYSE:CARR opened at $57.06 on Friday. 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 twelve month low of $53.33 and a twelve month high of $83.32. The company has a market cap of $49.30 billion, a PE ratio of 9.09, a P/E/G ratio of 2.01 and a beta of 1.33. The company’s 50 day moving average is $65.27 and its two-hundred day moving average is $71.31.

Carrier Global (NYSE:CARR) last announced 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 net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the firm earned $0.53 EPS. Analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

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.