GeoWealth Management LLC Reduces Holdings in Carrier Global Co. (NYSE:CARR)

GeoWealth Management LLC lessened its position in Carrier Global Co. (NYSE:CARR) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,074 shares of the company’s stock after selling 1,796 shares during the quarter. GeoWealth Management LLC’s holdings in Carrier Global were worth $756,000 at the end of the most recent reporting period.

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

Carrier Global Stock Up 1.2 %

Shares of Carrier Global stock opened at $59.87 on Monday. Carrier Global Co. has a 52-week low of $53.50 and a 52-week high of $83.32. The firm’s 50 day moving average price is $63.76 and its 200-day moving average price is $69.54. 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 company has a market cap 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 issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $0.53 EPS. On average, sell-side analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on CARR shares. Royal Bank of Canada cut their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.13.

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.