Mirae Asset Global Investments Co. Ltd. raised its position in Carrier Global Co. (NYSE:CARR – Get Rating) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,315 shares of the company’s stock after purchasing an additional 11,986 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Carrier Global were worth $5,705,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its holdings in Carrier Global by 3.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,108,963 shares of the company’s stock valued at $608,395,000 after purchasing an additional 558,801 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Carrier Global by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,462,760 shares of the company’s stock valued at $307,872,000 after purchasing an additional 67,877 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Carrier Global by 126.0% during the 1st quarter. Renaissance Technologies LLC now owns 5,306,931 shares of the company’s stock worth $243,429,000 after acquiring an additional 2,958,400 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Carrier Global by 6.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,197,656 shares of the company’s stock worth $214,403,000 after acquiring an additional 315,297 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Carrier Global by 59.5% during the 1st quarter. Invesco Ltd. now owns 4,948,588 shares of the company’s stock worth $226,992,000 after acquiring an additional 1,845,419 shares during the last quarter. 85.21% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of Carrier Global in a report on Thursday, April 27th. Citigroup lifted their price objective on shares of Carrier Global from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Morgan Stanley lifted their price objective on shares of Carrier Global from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 5th. Mizuho reaffirmed a “buy” rating and set a $53.00 price objective on shares of Carrier Global in a report on Wednesday, February 8th. Finally, Barclays lowered their price target on shares of Carrier Global from $50.00 to $48.00 in a research note on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.07.
Carrier Global Price Performance
Carrier Global (NYSE:CARR – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Carrier Global had a net margin of 12.02% and a return on equity of 25.56%. The company had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. Carrier Global’s quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Carrier Global Co. will post 2.57 earnings per share for the current year.
Carrier Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Friday, May 5th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, May 4th. Carrier Global’s dividend payout ratio (DPR) is presently 25.00%.
Insiders Place Their Bets
In other Carrier Global news, VP Nadia Villeneuve sold 20,538 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $45.45, for a total value of $933,452.10. Following the sale, the vice president now owns 48,900 shares in the company, valued at $2,222,505. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.38% of the company’s stock.
Carrier Global Company Profile
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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