Fiduciary Trust Co Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Fiduciary Trust Co raised its position in shares of Carrier Global Co. (NYSE:CARR) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 88,103 shares of the company’s stock after purchasing an additional 3,267 shares during the quarter. Fiduciary Trust Co’s holdings in Carrier Global were worth $6,014,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. boosted its holdings in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $31,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after buying an additional 340 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $37,000. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Mizuho set a $72.00 target price on shares of Carrier Global in a research note on Tuesday, April 22nd. Royal Bank of Canada increased their price target on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays lifted their price objective on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.53.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $71.44 on Friday. The company has a market capitalization of $61.25 billion, a PE ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The business has a fifty day moving average price of $63.72 and a 200-day moving average price of $68.02. Carrier Global Co. has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm 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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s payout ratio is 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.