Marshall Wace LLP Increases Stake in Carrier Global Co. (NYSE:CARR)

Marshall Wace LLP raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1,726.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 700,145 shares of the company’s stock after acquiring an additional 661,815 shares during the quarter. Marshall Wace LLP owned approximately 0.08% of Carrier Global worth $47,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Carrier Global during the fourth quarter valued at $588,029,000. Wealthfront Advisers LLC raised its stake in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after buying an additional 4,915,826 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global during the 4th quarter valued at about $166,061,000. Raymond James Financial Inc. bought a new position in shares of Carrier Global during the 4th quarter valued at approximately $108,433,000. Finally, Invesco Ltd. increased its holdings in Carrier Global by 40.3% in the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock worth $345,201,000 after acquiring an additional 1,453,247 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CARR shares. Royal Bank of Canada dropped their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company cut their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research note on Monday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $59.87 on Friday. The firm has a fifty day simple moving average of $63.87 and a two-hundred day simple moving average of $69.82. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $51.73 billion, a P/E ratio of 9.53, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 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 period last year, the company earned $0.53 earnings per share. On average, analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, May 2nd. Carrier Global’s dividend payout ratio is currently 14.33%.

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.