US Bancorp DE Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

US Bancorp DE raised its stake in Carrier Global Co. (NYSE:CARR) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 332,319 shares of the company’s stock after buying an additional 2,064 shares during the period. US Bancorp DE’s holdings in Carrier Global were worth $22,684,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $31,000. Coastline Trust Co acquired a new position in shares of Carrier Global in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP acquired a new position in shares of Carrier Global in the 3rd quarter valued at $44,000. Finally, Roxbury Financial LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $49,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CARR. Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $82.47.

Carrier Global Stock Performance

Carrier Global stock opened at $64.81 on Monday. The firm’s fifty day moving average price is $67.15 and its 200 day moving average price is $72.43. The company has a market capitalization of $56.00 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 12-month low of $53.33 and a 12-month 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.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 period in the prior 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 Increases Dividend

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

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.