Carrier Global Co. (NYSE:CARR) Stake Lowered by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,757 shares of the company’s stock after selling 11,425 shares during the period. CIBC Private Wealth Group LLC’s holdings in Carrier Global were worth $7,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $1,357,961,000 after buying an additional 289,439 shares during the last quarter. Fisher Asset Management LLC raised its position in Carrier Global by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after acquiring an additional 46,222 shares in the last quarter. Norges Bank bought a new stake in Carrier Global in the fourth quarter worth approximately $588,029,000. Finally, Pictet Asset Management Holding SA grew its position in Carrier Global by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company’s stock worth $415,078,000 after acquiring an additional 126,174 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $63.40 on Wednesday. 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 has a market cap of $54.78 billion, a P/E ratio of 10.10, a PEG ratio of 2.01 and a beta of 1.35. The company has a fifty day moving average price of $65.81 and a 200 day moving average price of $71.62. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating 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 quarter last year, the company earned $0.53 earnings per share. Analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

CARR has been the subject of several analyst reports. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday, February 14th. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Barclays reduced their target price on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, Royal Bank of Canada lowered their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Five research 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 company. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $82.27.

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.