Carrier Global Corporation $CARR Shares Purchased by M&G PLC

M&G PLC raised its position in shares of Carrier Global Corporation (NYSE:CARR) by 14.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 522,777 shares of the company’s stock after purchasing an additional 65,085 shares during the quarter. M&G PLC’s holdings in Carrier Global were worth $28,680,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Retirement Systems of Alabama increased its stake in Carrier Global by 184.7% during the third quarter. Retirement Systems of Alabama now owns 466,933 shares of the company’s stock valued at $25,616,000 after purchasing an additional 302,917 shares during the last quarter. Fulcrum Asset Management LLP grew its position in shares of Carrier Global by 31.4% during the 3rd quarter. Fulcrum Asset Management LLP now owns 9,313 shares of the company’s stock valued at $530,000 after buying an additional 2,224 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Carrier Global by 6.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,351 shares of the company’s stock valued at $2,228,000 after buying an additional 2,393 shares during the last quarter. StoneRidge PMG Advisors LLC acquired a new position in Carrier Global in the third quarter valued at approximately $469,000. Finally, University of Texas Texas AM Investment Management Co. boosted its stake in Carrier Global by 695.7% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 5,785 shares of the company’s stock valued at $317,000 after acquiring an additional 5,058 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CARR shares. Mizuho dropped their price target on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Citigroup lowered their price objective on Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Royal Bank Of Canada lowered their price objective 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 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 Monday, November 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Trading Up 1.9%

NYSE:CARR opened at $53.38 on Tuesday. The stock has a market cap of $43.68 billion, a price-to-earnings ratio of -24.05, a PEG ratio of 2.03 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 Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The business has a fifty day moving average of $55.77 and a 200-day moving average of $61.65.

Carrier Global (NYSE:CARR) last issued 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 business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. Equities analysts predict that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio is currently -43.24%.

Carrier Global 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.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.