LRI Investments LLC Acquires 297 Shares of Carrier Global Co. (NYSE:CARR)

LRI Investments LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 58,794 shares of the company’s stock after acquiring an additional 297 shares during the period. LRI Investments LLC’s holdings in Carrier Global were worth $4,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CARR. Norges Bank acquired a new stake in Carrier Global in the fourth quarter worth $588,029,000. Wealthfront Advisers LLC increased its position in shares of Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after buying an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. raised its stake in 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 buying an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership bought a new position in Carrier Global during the fourth quarter worth about $166,061,000. Finally, Raymond James Financial Inc. bought a new position in Carrier Global during the fourth quarter worth about $108,433,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $71.44 on Monday. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The firm’s 50 day moving average is $63.72 and its 200-day moving average is $67.91. The company has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth 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 (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business earned $0.51 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate 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. Investors of record on Friday, May 2nd will be given 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 dividend payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Northcoast Research raised 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. Royal Bank of Canada raised their target price on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, Citigroup dropped their price objective on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target of $81.53.

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.