Russell Investments Group Ltd. Grows Holdings in Carrier Global Co. (NYSE:CARR)

Russell Investments Group Ltd. raised its position in shares of Carrier Global Co. (NYSE:CARR) by 19.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,748,963 shares of the company’s stock after purchasing an additional 280,843 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Carrier Global worth $119,377,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CARR. Hemenway Trust Co LLC boosted its holdings in Carrier Global by 14.2% in the 4th quarter. Hemenway Trust Co LLC now owns 328,789 shares of the company’s stock worth $22,443,000 after buying an additional 40,766 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Carrier Global by 14.6% in the fourth quarter. Wedbush Securities Inc. now owns 16,158 shares of the company’s stock worth $1,103,000 after acquiring an additional 2,057 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Carrier Global by 5.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,346,428 shares of the company’s stock worth $160,167,000 after purchasing an additional 126,318 shares in the last quarter. Dempze Nancy E raised its stake in Carrier Global by 20.5% during the 4th quarter. Dempze Nancy E now owns 37,482 shares of the company’s stock valued at $2,559,000 after purchasing an additional 6,372 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in Carrier Global during the 4th quarter valued at approximately $16,667,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $77.00 to $78.00 in a report on Wednesday, March 5th. Wolfe Research raised shares of 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. The Goldman Sachs Group initiated coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.27.

Carrier Global Stock Performance

NYSE CARR opened at $57.06 on Friday. The business’s 50 day moving average price is $65.27 and its 200-day moving average price is $71.31. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The company has a market cap of $49.30 billion, a P/E ratio of 9.09, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 previous year, the business earned $0.53 EPS. Sell-side analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current year.

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.