Bayesian Capital Management LP Invests $812,000 in Carrier Global Co. (NYSE:CARR)

Bayesian Capital Management LP acquired a new position in Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,900 shares of the company’s stock, valued at approximately $812,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. grew its position in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in shares of Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $31,000. Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after purchasing an additional 340 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $37,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $70.79 on Tuesday. Carrier Global Co. has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The stock has a market capitalization of $61.16 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 2.01 and a beta of 1.33. 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 business has a 50-day moving average of $63.16 and a 200-day moving average of $68.13.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts predict that Carrier Global Co. will post 2.99 earnings per share 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. Investors of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is currently 13.93%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CARR shares. Barclays reduced their target price on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Monday, February 24th. Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.21.

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.