Investment Management Corp of Ontario Has $1.54 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Investment Management Corp of Ontario lessened its position in Carrier Global Co. (NYSE:CARR) by 16.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,614 shares of the company’s stock after selling 4,400 shares during the quarter. Investment Management Corp of Ontario’s holdings in Carrier Global were worth $1,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. Norges Bank acquired a new position in shares of Carrier Global during the 4th quarter worth approximately $588,029,000. Wealthfront Advisers LLC boosted its stake in shares of Carrier Global by 5,840.1% during the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after acquiring an additional 4,915,826 shares during the period. Brown Advisory Inc. boosted its stake in shares of Carrier Global by 139.1% during the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock worth $361,544,000 after acquiring an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Carrier Global during the 4th quarter worth approximately $166,061,000. Finally, Raymond James Financial Inc. bought a new position in shares of Carrier Global during the 4th quarter worth approximately $108,433,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday. Wells Fargo & Company boosted their price target on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Royal Bank of Canada boosted their price target on Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Four 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.53.

Carrier Global Stock Performance

Shares of CARR opened at $71.44 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $61.25 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The stock has a 50 day moving average of $63.72 and a 200 day moving average of $67.91. Carrier Global Co. has a 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the company earned $0.51 earnings per share. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s payout ratio is currently 13.93%.

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.