Connor Clark & Lunn Investment Management Ltd. Acquires 44,105 Shares of Carrier Global Co. (NYSE:CARR)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 602.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,432 shares of the company’s stock after buying an additional 44,105 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Carrier Global were worth $3,511,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Meridian Wealth Management LLC raised its position in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after purchasing an additional 147 shares during the period. Great Valley Advisor Group Inc. lifted its stake in Carrier Global by 1.6% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,437 shares of the company’s stock valued at $759,000 after purchasing an additional 150 shares during the last quarter. Finally, Ingalls & Snyder LLC grew its holdings in Carrier Global by 1.2% during the third quarter. Ingalls & Snyder LLC now owns 12,315 shares of the company’s stock worth $991,000 after purchasing an additional 150 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.6 %

CARR opened at $67.62 on Tuesday. 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 Co. has a twelve month low of $53.33 and a twelve month high of $83.32. The stock has a market capitalization of $58.42 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a 50-day simple moving average of $66.39 and a 200 day simple moving average of $72.07.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the business posted $0.53 EPS. Analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Royal Bank of Canada cut their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Barclays dropped their price objective on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, February 24th. Finally, Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.53.

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.