Carrier Global Corporation $CARR Stock Acquired by Welch Group LLC

Welch Group LLC grew its stake in Carrier Global Corporation (NYSE:CARR) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,400 shares of the company’s stock after purchasing an additional 15,755 shares during the period. Welch Group LLC’s holdings in Carrier Global were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $590,759,000. Bank of America Corp DE acquired a new position in Carrier Global in the second quarter valued at $572,908,000. Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after buying an additional 246,723 shares during the period. Legal & General Group Plc bought a new stake in Carrier Global in the second quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $283,585,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $53.45 on Monday. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The company has a market capitalization of $43.73 billion, a P/E ratio of -24.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33. The firm has a 50 day moving average of $56.37 and a 200 day moving average of $61.71. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Carrier Global’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s payout ratio is presently -43.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CARR shares. Robert W. Baird reduced their price target on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. The Goldman Sachs Group downgraded shares of Carrier Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $74.00 to $61.00 in a research report on Wednesday, October 14th. Wolfe Research reaffirmed an “outperform” rating and set a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Finally, Mizuho lowered their price target on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.