Carrier Global Corporation $CARR Position Increased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its position in Carrier Global Corporation (NYSE:CARR) by 42.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,386 shares of the company’s stock after acquiring an additional 46,430 shares during the quarter. New York Life Investment Management LLC’s holdings in Carrier Global were worth $8,524,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CARR. Bank of New York Mellon Corp bought a new stake in shares of Carrier Global during the 2nd quarter valued at about $590,759,000. Bank of America Corp DE bought a new position in shares of Carrier Global in the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP lifted its stake in shares of Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after purchasing an additional 246,723 shares during the period. Legal & General Group Plc bought a new position in shares of Carrier Global in the 2nd quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA bought a new position in shares of Carrier Global in the 2nd quarter worth approximately $283,585,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, October 30th. The Goldman Sachs Group cut shares of Carrier Global from a “buy” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $61.00 in a report on Wednesday, October 14th. BNP Paribas Exane decreased their price target on shares of Carrier Global from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Weiss Ratings cut shares of Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 30th. Eleven investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Stock Performance

NYSE:CARR opened at $54.38 on Friday. The stock has a 50-day moving average price of $55.54 and a 200 day moving average price of $61.60. The stock has a market capitalization of $44.49 billion, a P/E ratio of -24.49, a P/E/G ratio of 2.01 and a beta of 1.33. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping 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 analysts’ expectations of $6.09 billion. During the same period in the previous year, the firm earned $0.67 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Carrier Global Corporation will post 2.85 EPS 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. Stockholders of record on Thursday, October 29th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is presently -43.24%.

Carrier Global Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.