Spurstone Advisory Services LLC Makes New $137,000 Investment in Carrier Global Co. (NYSE:CARR)

Spurstone Advisory Services LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,000 shares of the company’s stock, valued at approximately $137,000. Carrier Global accounts for approximately 2.6% of Spurstone Advisory Services LLC’s investment portfolio, making the stock its 12th largest holding.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock worth $1,181,300,000 after acquiring an additional 420,081 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock worth $977,028,000 after purchasing an additional 46,222 shares in the last quarter. Northern Trust Corp lifted its holdings in Carrier Global by 16.7% during the 4th 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 last quarter. Norges Bank bought a new position in Carrier Global during the 4th quarter valued at about $588,029,000. Finally, Pictet Asset Management Holding SA boosted its position in 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 in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their price objective on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $82.53.

Carrier Global Price Performance

Carrier Global stock opened at $75.63 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $64.83 billion, a P/E ratio of 12.04, a PEG ratio of 2.01 and a beta of 1.33. The business has a 50-day moving average of $64.53 and a 200-day moving average of $67.91. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion during 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%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, equities analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.19%. Carrier Global’s payout ratio is 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.