Gulf International Bank UK Ltd Cuts Holdings in Carrier Global Co. (NYSE:CARR)

Gulf International Bank UK Ltd lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 65,293 shares of the company’s stock after selling 662 shares during the period. Gulf International Bank UK Ltd’s holdings in Carrier Global were worth $4,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Carrier Global in the third quarter worth about $130,479,000. Mizuho Securities USA LLC lifted its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after buying an additional 922,892 shares during the last quarter. State Street Corp boosted its holdings in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after buying an additional 289,439 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $64.04 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.96 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. The firm has a 50 day moving average of $67.23 and a two-hundred day moving average of $72.33. The firm has a market capitalization of $55.61 billion, a PE ratio of 10.20, a P/E/G ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its 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 net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.41%. Carrier Global’s dividend payout ratio is presently 14.33%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reduced their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.47.

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.