Raymond James Trust N.A. Reduces Holdings in Carrier Global Co. (NYSE:CARR)


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Raymond James Trust N.A. cut its stake in Carrier Global Co. (NYSE:CARR) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,718 shares of the company’s stock after selling 6,397 shares during the period. Raymond James Trust N.A.’s holdings in Carrier Global were worth $2,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. FMR LLC purchased a new position in Carrier Global during the second quarter valued at $199,440,000. Nuveen Asset Management LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $109,036,000. Charles Schwab Investment Management Inc. purchased a new position in Carrier Global during the 2nd quarter valued at about $95,579,000. Ceredex Value Advisors LLC purchased a new position in shares of Carrier Global during the third quarter valued at approximately $75,962,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Carrier Global during the second quarter valued at approximately $44,508,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Carrier Global stock opened at $41.38 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 2.16. Carrier Global Co. has a one year low of $11.50 and a one year high of $41.94. The stock has a fifty day moving average of $38.28 and a 200 day moving average of $32.55.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.19. Carrier Global had a net margin of 8.86% and a return on equity of 24.00%. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Carrier Global Co. will post 1.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 10th. Shareholders of record on Wednesday, December 23rd will be issued a dividend of $0.12 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, December 22nd.

CARR has been the subject of a number of recent research reports. BidaskClub upgraded Carrier Global from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. JPMorgan Chase & Co. lifted their price target on Carrier Global from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 7th. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Sunday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Vertical Research raised shares of Carrier Global from a “hold” rating to a “buy” rating in a report on Monday, January 4th. Finally, Barclays cut shares of Carrier Global from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $38.00 to $45.00 in a report on Monday, November 30th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.27.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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