JPMorgan Chase & Co. Sells 2,375,456 Shares of Carrier Global Co. (NYSE:CARR)

JPMorgan Chase & Co. reduced its stake in Carrier Global Co. (NYSE:CARR) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,457,940 shares of the company’s stock after selling 2,375,456 shares during the quarter. JPMorgan Chase & Co. owned 2.95% of Carrier Global worth $1,806,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. RFG Advisory LLC raised its holdings in shares of Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,018 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Carrier Global in the 4th quarter valued at $2,213,000. Dynamic Technology Lab Private Ltd bought a new stake in Carrier Global during the 3rd quarter worth about $793,000. Finally, Waldron Private Wealth LLC boosted its stake in shares of Carrier Global by 90.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after buying an additional 7,854 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Friday, February 14th. Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Barclays dropped their price target on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and increased their price target for the company from $77.00 to $78.00 in a research note on Wednesday, March 5th. Five investment 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.27.

Carrier Global Stock Down 1.9 %

Carrier Global stock opened at $65.67 on Friday. The company’s 50-day moving average price is $66.21 and its two-hundred day moving average price is $71.86. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The stock has a market cap of $56.74 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a twelve month low of $53.33 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping 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 last year, the company earned $0.53 EPS. As a group, analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

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.