Ensign Peak Advisors Inc Buys 285,803 Shares of Carrier Global Co. (NYSE:CARR)

Ensign Peak Advisors Inc grew its stake in Carrier Global Co. (NYSE:CARR) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,314,180 shares of the company’s stock after purchasing an additional 285,803 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.15% of Carrier Global worth $89,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Carrier Global during the fourth quarter worth approximately $588,029,000. Wealthfront Advisers LLC lifted its holdings in shares of Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after buying an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after acquiring an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global in the fourth quarter valued at about $166,061,000. Finally, Raymond James Financial Inc. bought a new position in Carrier Global during the fourth quarter worth about $108,433,000. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday. Citigroup dropped their target price on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.53.

Carrier Global Price Performance

CARR opened at $71.44 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $61.25 billion, a P/E ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The stock has a 50-day moving average price of $63.72 and a 200-day moving average price of $68.02. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Equities analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.26%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Carrier Global Company Profile

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.