Gabelli Funds LLC Lowers Stock Position in Carrier Global Co. (NYSE:CARR)

Gabelli Funds LLC trimmed its stake in Carrier Global Co. (NYSE:CARR) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 315,046 shares of the company’s stock after selling 1,700 shares during the period. Gabelli Funds LLC’s holdings in Carrier Global were worth $21,505,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CARR. Geode Capital Management LLC boosted its stake in shares of Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC lifted its holdings in 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 buying an additional 46,222 shares in the last quarter. Norges Bank purchased a new position in Carrier Global in the 4th quarter valued at approximately $588,029,000. Pictet Asset Management Holding SA grew its stake in shares of 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 worth $415,078,000 after acquiring an additional 126,174 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock worth $345,201,000 after acquiring an additional 1,453,247 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CARR. Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Friday, February 14th. Finally, Wolfe Research upgraded 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. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Carrier Global Stock Down 0.2 %

Shares of NYSE CARR opened at $60.48 on Wednesday. The stock has a market cap of $52.26 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The business has a 50-day moving average price of $64.09 and a 200 day moving average price of $70.04. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the company earned $0.53 earnings per share. Equities research analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed 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 1.49%. Carrier Global’s dividend payout ratio is presently 14.33%.

About Carrier Global

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.