Southpoint Capital Advisors LP Has $437.99 Million Stake in Carrier Global Co. (NYSE:CARR)

Southpoint Capital Advisors LP trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 13.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,374,000 shares of the company’s stock after selling 1,626,000 shares during the period. Carrier Global comprises approximately 7.3% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its biggest position. Southpoint Capital Advisors LP’s holdings in Carrier Global were worth $437,990,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CARR. Tacita Capital Inc purchased a new stake in Carrier Global in the 4th quarter worth approximately $27,000. Ironwood Wealth Management LLC. bought a new position in shares of Carrier Global during the 4th quarter valued at $29,000. Elmwood Wealth Management Inc. bought a new position in shares of Carrier Global during the 1st quarter valued at $31,000. Cedar Mountain Advisors LLC raised its holdings in shares of Carrier Global by 294.5% during the 1st quarter. Cedar Mountain Advisors LLC now owns 856 shares of the company’s stock valued at $36,000 after purchasing an additional 639 shares in the last quarter. Finally, Vantage Consulting Group Inc bought a new position in shares of Carrier Global during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Shares of NYSE CARR traded up $0.27 during trading on Thursday, reaching $50.72. The company had a trading volume of 206,000 shares, compared to its average volume of 4,499,099. Carrier Global Co. has a 52 week low of $25.60 and a 52 week high of $50.59. The stock has a market cap of $44.08 billion, a PE ratio of 27.88, a PEG ratio of 1.80 and a beta of 0.81. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $46.68.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 29th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.11. Carrier Global had a net margin of 12.43% and a return on equity of 27.29%. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that Carrier Global Co. will post 2.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Thursday, June 24th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 23rd. Carrier Global’s dividend payout ratio is 28.92%.

A number of research firms recently issued reports on CARR. Atlantic Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Carrier Global in a research note on Thursday, May 6th. KeyCorp raised their price target on shares of Carrier Global from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 8th. Zacks Investment Research upgraded shares of Carrier Global from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday, June 25th. UBS Group raised their price target on shares of Carrier Global from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Finally, Barclays raised their price target on shares of Carrier Global from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 8th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.47.

About Carrier Global

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 and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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