Carrier Global Corporation $CARR Stock Holdings Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 13.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,964 shares of the company’s stock after buying an additional 16,925 shares during the period. Rakuten Investment Management Inc.’s holdings in Carrier Global were worth $7,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Carrier Global during the second quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its stake in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Burnham & Co LLC purchased a new stake in Carrier Global during the second quarter worth approximately $37,000. Finally, Latitude Advisors LLC acquired a new position in Carrier Global in the third quarter valued at approximately $27,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Royal Bank Of Canada reduced their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. The Goldman Sachs Group cut shares of Carrier Global from a “buy” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $61.00 in a report on Wednesday, October 14th. Robert W. Baird dropped their target price on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Mizuho dropped their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Stock Down 4.5%

Carrier Global stock opened at $53.17 on Friday. The company has a market capitalization of $43.51 billion, a P/E ratio of 21.08, 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 fifty-two week low of $50.24 and a fifty-two week high of $76.76. The stock has a 50-day simple moving average of $56.00 and a 200-day simple moving average of $61.69.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend 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 presently -43.24%.

Carrier Global Company 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.