Carrier Global Corporation $CARR Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 13.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 142,964 shares of the company’s stock after buying an additional 16,925 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Carrier Global were worth $7,917,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its holdings in shares of Carrier Global by 2.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company’s stock worth $426,000 after buying an additional 158 shares during the last quarter. Texas Bank & Trust Co raised its stake in Carrier Global by 1.3% during the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company’s stock valued at $742,000 after acquiring an additional 175 shares during the last quarter. Personal CFO Solutions LLC raised its stake in Carrier Global by 0.7% during the 1st quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company’s stock valued at $1,389,000 after acquiring an additional 181 shares during the last quarter. Brookstone Capital Management lifted its position in Carrier Global by 3.2% during the 3rd quarter. Brookstone Capital Management now owns 6,192 shares of the company’s stock worth $340,000 after acquiring an additional 194 shares during the period. Finally, PFG Investments LLC lifted its position in Carrier Global by 2.8% during the 1st quarter. PFG Investments LLC now owns 7,242 shares of the company’s stock worth $408,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $53.17 on Friday. 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 company has a market cap of $43.51 billion, a P/E ratio of 21.08, a PEG ratio of 2.03 and a beta of 1.33. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a 50-day moving average price of $56.00 and a 200 day moving average price of $61.69.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.87 earnings per share 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 for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently -43.24%.

Analysts Set New Price Targets

Several brokerages have weighed in on CARR. Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Sanford C. Bernstein cut their price target on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, October 7th. Citigroup decreased their price target on Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a report on Friday, October 30th. The Goldman Sachs Group lowered shares of Carrier Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $74.00 to $61.00 in a research report on Wednesday, October 14th. Finally, Mizuho dropped 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 note on Thursday, October 15th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $69.27.

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.