Geode Capital Management LLC Buys 420,081 Shares of Carrier Global Co. (NYSE:CARR)

Geode Capital Management LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,357,770 shares of the company’s stock after buying an additional 420,081 shares during the period. Geode Capital Management LLC owned about 1.93% of Carrier Global worth $1,181,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Public Sector Pension Investment Board raised its holdings in shares of Carrier Global by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 40,285 shares of the company’s stock valued at $3,243,000 after buying an additional 4,400 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Carrier Global by 1,111.5% during the third quarter. Benjamin Edwards Inc. now owns 67,588 shares of the company’s stock valued at $5,440,000 after purchasing an additional 62,009 shares during the period. Cinctive Capital Management LP bought a new stake in Carrier Global during the 3rd quarter valued at $1,680,000. Hilltop Holdings Inc. boosted its position in Carrier Global by 81.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 10,006 shares of the company’s stock valued at $805,000 after buying an additional 4,493 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Carrier Global during the 3rd quarter valued at $3,497,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $63.40 on Wednesday. The company has a 50 day simple moving average of $65.81 and a two-hundred day simple moving average of $71.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The firm has a market cap of $54.78 billion, a P/E ratio of 10.10, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 period in the prior year, the company posted $0.53 earnings per share. Equities analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of research analyst reports. Barclays reduced their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Monday, February 24th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Friday, February 14th. JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $78.00 in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.27.

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.