Fmr LLC Sells 844,681 Shares of Carrier Global Co. (NYSE:CARR)

Fmr LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,884,392 shares of the company’s stock after selling 844,681 shares during the period. Fmr LLC owned 0.88% of Carrier Global worth $538,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CARR. BOK Financial Private Wealth Inc. grew its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at about $31,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after purchasing an additional 340 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Carrier Global in the fourth quarter valued at approximately $42,000. Finally, Roxbury Financial LLC bought a new stake in Carrier Global during the fourth quarter valued at approximately $49,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $55.46 on Wednesday. The firm has a market cap of $47.92 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company’s fifty day simple moving average is $64.63 and its two-hundred day simple moving average is $70.81. 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 12-month low of $53.33 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CARR shares. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Friday, February 14th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, February 24th. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company cut their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global 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.