Summit Investment Advisors Inc. Reduces Position in Carrier Global Co. (NYSE:CARR)

Summit Investment Advisors Inc. reduced its position in Carrier Global Co. (NYSE:CARR) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,130 shares of the company’s stock after selling 374 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Carrier Global were worth $555,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock worth $1,181,300,000 after acquiring an additional 420,081 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the period. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter worth about $588,029,000. Pictet Asset Management Holding SA increased its stake in Carrier Global by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company’s stock worth $415,078,000 after buying an additional 126,174 shares during the period. Finally, Invesco Ltd. lifted its holdings in Carrier Global by 40.3% during the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock valued at $345,201,000 after buying an additional 1,453,247 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $59.87 on Friday. The company has a 50 day moving average price of $63.76 and a 200 day moving average price of $69.69. The firm 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. 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 52 week low of $53.33 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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 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 EPS for the current year.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on CARR. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Monday, February 24th. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Carrier Global 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.