CIBC Asset Management Inc cut its stake in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,668 shares of the company’s stock after selling 8,557 shares during the quarter. CIBC Asset Management Inc’s holdings in Carrier Global were worth $5,902,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in Carrier Global by 16.7% in the 4th quarter. Capital Research Global Investors now owns 69,450,096 shares of the company’s stock worth $3,766,967,000 after purchasing an additional 9,951,763 shares during the period. Norges Bank purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $411,540,000. Capital World Investors raised its holdings in shares of Carrier Global by 8.5% during the 4th quarter. Capital World Investors now owns 65,581,967 shares of the company’s stock worth $3,557,121,000 after acquiring an additional 5,135,409 shares in the last quarter. Clean Energy Transition LLP purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $169,937,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Carrier Global by 855.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,852,153 shares of the company’s stock worth $154,701,000 after acquiring an additional 2,553,724 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. TheStreet lowered Carrier Global from a “b-” rating to a “c” rating in a report on Friday, April 29th. Jefferies Financial Group decreased their price target on Carrier Global from $55.00 to $47.00 in a report on Friday, July 15th. KeyCorp decreased their price target on Carrier Global from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Barclays decreased their price target on Carrier Global from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Finally, Wells Fargo & Company increased their target price on Carrier Global from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, August 1st. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.73.
Carrier Global Price Performance
Carrier Global Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Thursday, June 23rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, June 22nd. Carrier Global’s payout ratio is currently 19.11%.
Carrier Global Profile
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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