Primecap Management Co. CA Raises Stake in Carrier Global Co. (NYSE:CARR)

Primecap Management Co. CA boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 14.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,374,582 shares of the company’s stock after purchasing an additional 291,350 shares during the period. Primecap Management Co. CA’s holdings in Carrier Global were worth $162,089,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. RFG Advisory LLC grew its position in shares of Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after acquiring an additional 1,904 shares during the period. Princeton Global Asset Management LLC grew its holdings in Carrier Global by 1,156.1% during 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 during the period. Daiwa Securities Group Inc. increased its position in Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after buying an additional 11,032 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after buying an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Carrier Global in the fourth quarter valued at $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, February 24th. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.53.

Carrier Global Stock Down 0.6 %

CARR stock opened at $67.25 on Wednesday. The business has a 50 day moving average of $66.38 and a 200 day moving average of $72.04. The firm has a market cap of $58.10 billion, a PE ratio of 10.71, a price-to-earnings-growth 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. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data 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 net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal 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.