Bank of New York Mellon Corp Has $402.38 Million Holdings in Carrier Global Corporation $CARR

Bank of New York Mellon Corp lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 29.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,740,099 shares of the company’s stock after acquiring an additional 1,525,266 shares during the period. Bank of New York Mellon Corp’s holdings in Carrier Global were worth $402,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CARR. Brighton Jones LLC raised its position in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Carrier Global by 51.5% during the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,200 shares during the period. Janney Montgomery Scott LLC increased its holdings in Carrier Global by 0.4% in the second quarter. Janney Montgomery Scott LLC now owns 272,953 shares of the company’s stock valued at $19,977,000 after purchasing an additional 1,158 shares during the last quarter. Truist Financial Corp lifted its stake in Carrier Global by 5.3% in the second quarter. Truist Financial Corp now owns 128,005 shares of the company’s stock valued at $9,369,000 after buying an additional 6,471 shares during the period. Finally, LBP AM SA bought a new position in Carrier Global during the second quarter worth about $6,081,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CARR. Deutsche Bank Aktiengesellschaft lowered their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Citigroup lowered their target price on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Royal Bank Of Canada reduced their price target on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Robert W. Baird lowered their price objective on shares of Carrier Global from $72.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group dropped their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.06.

Carrier Global Stock Up 3.1%

Shares of CARR stock opened at $59.68 on Friday. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average of $54.43 and a 200-day moving average of $60.03. The company has a market capitalization of $50.26 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.33 and a beta of 1.31.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s payout ratio is currently 21.48%.

Carrier Global declared that its board has authorized a share repurchase program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.