219,803 Shares in Carrier Global Corporation $CARR Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 219,803 shares of the company’s stock, valued at approximately $12,058,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Carrier Global in the second quarter valued at about $590,759,000. Bank of America Corp DE bought a new stake in shares of Carrier Global in the second quarter worth about $572,908,000. Dimensional Fund Advisors LP grew its stake in shares of Carrier Global by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after purchasing an additional 246,723 shares during the last quarter. Legal & General Group Plc purchased a new position in Carrier Global during the 2nd quarter valued at about $322,366,000. Finally, Primecap Management Co. CA purchased a new position in Carrier Global during the 2nd quarter valued at about $283,585,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $55.30 on Wednesday. The company has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $61.71. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a market capitalization of $45.25 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.02 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.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. Analysts expect that Carrier Global Corporation will post 2.86 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, October 29th. Carrier Global’s payout ratio is presently -43.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BNP Paribas Exane dropped their price objective on Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Citigroup decreased their target price on Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a report on Friday, October 30th. Royal Bank Of Canada dropped their price target on Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Robert W. Baird decreased their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday. Finally, Zacks Research lowered shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.