Wealthfront Advisers LLC Cuts Holdings in Carrier Global Corporation $CARR

by · The Markets Daily

Wealthfront Advisers LLC cut its holdings in Carrier Global Corporation (NYSE:CARR – Free Report) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,607 shares of the company’s stock after selling 4,652 shares during the quarter. Wealthfront Advisers LLC’s holdings in Carrier Global were worth $6,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares during the period. Nuveen LLC purchased a new position in shares of Carrier Global in the 1st quarter valued at about $649,512,000. Brown Advisory Inc. lifted its stake in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Carrier Global by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock valued at $441,790,000 after purchasing an additional 38,233 shares during the period. Finally, PineStone Asset Management Inc. boosted its holdings in Carrier Global by 12.8% during the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after buying an additional 601,967 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $58.23 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $49.55 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The company has a 50-day simple moving average of $61.13 and a 200-day simple moving average of $66.99. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09.

Carrier Global (NYSE:CARR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. On average, equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is presently 19.61%.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Robert W. Baird reduced their price objective on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, September 23rd. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group cut their target price on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.41.

View Our Latest Research Report on CARR

About Carrier Global

(Free Report)

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.

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