EP Wealth Advisors LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

EP Wealth Advisors LLC decreased its position in Carrier Global Co. (NYSE:CARR) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,221 shares of the company’s stock after selling 4,487 shares during the quarter. EP Wealth Advisors LLC’s holdings in Carrier Global were worth $1,176,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its position in Carrier Global by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 224,323 shares of the company’s stock valued at $18,545,000 after purchasing an additional 2,596 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after purchasing an additional 20,500 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Carrier Global by 10.3% during the fourth quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock valued at $4,656,000 after buying an additional 6,365 shares during the period. CWA Asset Management Group LLC raised its stake in Carrier Global by 24.0% in the fourth quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock worth $286,000 after buying an additional 811 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in Carrier Global by 6.4% during the 4th quarter. First Hawaiian Bank now owns 18,441 shares of the company’s stock valued at $1,259,000 after acquiring an additional 1,114 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock opened at $71.44 on Friday. The stock’s 50 day simple moving average is $63.72 and its 200 day simple moving average is $68.02. 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 Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The stock has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is presently 13.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARR. Barclays increased their target price on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday. Royal Bank of Canada boosted their target price on shares of Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Wells Fargo & Company increased their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Citigroup lowered their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.53.

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.