Fifth Third Bancorp trimmed its position in Carrier Global Co. (NYSE:CARR) by 16.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,890 shares of the company’s stock after selling 49,345 shares during the quarter. Fifth Third Bancorp’s holdings in Carrier Global were worth $7,571,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. Vanguard Group Inc. acquired a new position in shares of Carrier Global in the second quarter valued at $2,062,136,000. Davis Selected Advisers acquired a new position in shares of Carrier Global in the second quarter valued at $679,387,000. Bank of New York Mellon Corp acquired a new position in shares of Carrier Global in the second quarter valued at $243,966,000. Bank of America Corp DE acquired a new position in shares of Carrier Global in the second quarter valued at $222,784,000. Finally, FMR LLC acquired a new position in shares of Carrier Global in the second quarter valued at $199,440,000. Institutional investors and hedge funds own 77.97% of the company’s stock.
Carrier Global stock opened at $38.54 on Friday. The business’s 50-day simple moving average is $34.82 and its 200 day simple moving average is $27.54. Carrier Global Co. has a 12-month low of $11.50 and a 12-month high of $41.48. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 2.16.
Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.19. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Carrier Global had a return on equity of 24.00% and a net margin of 8.86%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. Equities research analysts forecast that Carrier Global Co. will post 1.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, October 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, October 29th.
Several research analysts have issued reports on CARR shares. JPMorgan Chase & Co. increased their price objective on Carrier Global from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. Stephens started coverage on Carrier Global in a research note on Thursday, October 15th. They set an “overweight” rating and a $45.00 price objective for the company. Argus increased their price objective on Carrier Global from $28.00 to $34.00 in a research note on Thursday, August 13th. Morgan Stanley increased their price objective on Carrier Global from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, October 30th. Finally, The Goldman Sachs Group started coverage on Carrier Global in a research note on Sunday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Carrier Global currently has a consensus rating of “Buy” and a consensus target price of $31.80.
About Carrier Global
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.
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