Mirae Asset Global Investments Co. Ltd. Buys New Holdings in Carrier Global Corporation $CARR

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 219,803 shares of the company’s stock, valued at approximately $12,058,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in Carrier Global during the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in Carrier Global during the second quarter valued at approximately $26,000. Financial Management Professionals Inc. raised its position in Carrier Global by 142.4% in the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. Burnham & Co LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth $37,000. Finally, Latitude Advisors LLC purchased a new position in shares of Carrier Global during the 3rd quarter worth $27,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CARR. Wells Fargo & Company decreased their price objective on Carrier Global from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Mizuho decreased their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Wolfe Research restated an “outperform” rating and set a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. The Goldman Sachs Group downgraded shares of Carrier Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $74.00 to $61.00 in a report on Wednesday, October 14th. Finally, Zacks Research cut Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Price Performance

Carrier Global stock opened at $55.30 on Wednesday. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $56.17 and its 200 day moving average is $61.71. The company has a market cap of $45.25 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.02 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $0.67 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Carrier Global Corporation will post 2.86 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s payout ratio is presently -43.24%.

Carrier Global Company 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.