Carrier Global Co. (NYSE:CARR) Stock Position Lifted by Korea Investment CORP

Korea Investment CORP boosted its stake in Carrier Global Co. (NYSE:CARR) by 43.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 498,385 shares of the company’s stock after acquiring an additional 151,770 shares during the quarter. Korea Investment CORP’s holdings in Carrier Global were worth $34,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Carrier Global during the third quarter worth $590,000. FMR LLC increased its position in Carrier Global by 36.2% in 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 last quarter. Townsquare Capital LLC raised its stake in shares of Carrier Global by 67.9% during the 3rd quarter. Townsquare Capital LLC now owns 16,337 shares of the company’s stock worth $1,315,000 after purchasing an additional 6,608 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after buying an additional 110,988 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Carrier Global by 12.3% in 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. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CARR. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research report on Friday, February 14th. Wells Fargo & Company cut their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and raised their target price for the company from $77.00 to $78.00 in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.27.

Carrier Global Trading Down 3.6 %

Shares of Carrier Global stock opened at $63.28 on Friday. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The company’s fifty day simple moving average is $66.08 and its 200-day simple moving average is $71.81. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 2.01 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) 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 quarter in the prior year, the business posted $0.53 EPS. As a group, sell-side analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

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.