Tower Bridge Advisors Cuts Stake in Carrier Global Co. (NYSE:CARR)

Tower Bridge Advisors trimmed its stake in Carrier Global Co. (NYSE:CARR) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,389 shares of the company’s stock after selling 225 shares during the quarter. Tower Bridge Advisors’ holdings in Carrier Global were worth $846,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares during the period. Geode Capital Management LLC boosted its holdings in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC grew its position in Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after acquiring an additional 269,538 shares during the period. FMR LLC increased its stake in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Carrier Global by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after acquiring an additional 110,988 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $64.81 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The business has a 50 day moving average price of $67.15 and a two-hundred day moving average price of $72.33. The firm has a market cap of $56.00 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the prior year, the company earned $0.53 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 14.33%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. Barclays decreased their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada cut their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.47.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.