Allspring Global Investments Holdings LLC Has $2.65 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Allspring Global Investments Holdings LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,780 shares of the company’s stock after selling 2,108 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Carrier Global were worth $2,650,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted 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 valued at $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Geode Capital Management LLC boosted its stake in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after buying an additional 289,439 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after buying an additional 269,538 shares in the last quarter. FMR LLC boosted its stake in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Carrier Global by 1.9% in the third 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 in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CARR has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Royal Bank of Canada cut their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. 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 research note on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Price Performance

Shares of CARR opened at $66.10 on Friday. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. 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 company has a market capitalization of $57.39 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35. The business has a 50-day moving average of $67.46 and a 200-day moving average of $72.27.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is presently 14.33%.

Carrier Global Company 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.