QRG Capital Management Inc. Acquires 5,994 Shares of Carrier Global Co. (NYSE:CARR)

QRG Capital Management Inc. raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,266 shares of the company’s stock after purchasing an additional 5,994 shares during the quarter. QRG Capital Management Inc.’s holdings in Carrier Global were worth $5,001,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in 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 period. Zurich Insurance Group Ltd FI purchased a new position in shares of Carrier Global during the third quarter valued at $130,479,000. Mizuho Securities USA LLC increased its stake 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 period. Proficio Capital Partners LLC raised its holdings in shares of Carrier Global by 10,995.5% in the fourth quarter. Proficio Capital Partners LLC now owns 491,308 shares of the company’s stock valued at $33,537,000 after acquiring an additional 486,880 shares in the last quarter. Finally, State Street Corp lifted its stake in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

NYSE CARR opened at $64.81 on Friday. The company has a market cap of $56.00 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.01 and a beta of 1.35. 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 stock’s fifty day moving average price is $67.15 and its 200 day moving average price is $72.33. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating 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 EPS. As a group, equities research analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 14.33%.

Analysts Set New Price Targets

A number of research firms have commented on CARR. Wells Fargo & Company cut their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Barclays decreased their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Finally, Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.47.

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.