Peapack Gladstone Financial Corp Raises Holdings in Carrier Global Co. (NYSE:CARR)

Peapack Gladstone Financial Corp increased its position in Carrier Global Co. (NYSE:CARR) by 0.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 177,228 shares of the company’s stock after purchasing an additional 244 shares during the period. Peapack Gladstone Financial Corp’s holdings in Carrier Global were worth $12,097,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CARR. Morse Asset Management Inc acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $201,000. Quantinno Capital Management LP boosted its stake in Carrier Global by 116.9% during the 3rd quarter. Quantinno Capital Management LP now owns 47,906 shares of the company’s stock worth $3,856,000 after purchasing an additional 25,822 shares during the period. Stifel Financial Corp boosted its stake in Carrier Global by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 375,511 shares of the company’s stock worth $30,225,000 after purchasing an additional 15,516 shares during the period. Weiss Asset Management LP purchased a new position in Carrier Global during the 3rd quarter worth $1,528,000. Finally, Wellington Management Group LLP increased its stake in Carrier Global by 761.6% in the third quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock valued at $3,627,000 after purchasing an additional 39,834 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CARR shares. Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $78.00 in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Finally, Mizuho upgraded 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. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.27.

Carrier Global Stock Performance

NYSE CARR opened at $57.06 on Monday. The business has a 50 day moving average price of $65.27 and a 200 day moving average price of $71.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market capitalization of $49.30 billion, a P/E ratio of 9.09, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 1-year low of $48.50 and a 1-year high of $83.32.

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

Carrier Global Company Profile

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.