Legal & General Group Plc Sells 1,624,023 Shares of Carrier Global Co. (NYSE:CARR)

Legal & General Group Plc lessened its holdings in Carrier Global Co. (NYSE:CARR) by 25.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,656,587 shares of the company’s stock after selling 1,624,023 shares during the quarter. Legal & General Group Plc’s holdings in Carrier Global were worth $317,857,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CARR. BOK Financial Private Wealth Inc. boosted its stake in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Carrier Global in the 4th quarter valued at approximately $31,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock valued at $33,000 after buying an additional 340 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Carrier Global in the fourth quarter valued at about $42,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Royal Bank of Canada lowered 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 report on Wednesday, February 12th. Finally, Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Price Performance

Carrier Global stock opened at $55.46 on Wednesday. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The company has a market capitalization of $47.92 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The business has a 50 day simple moving average of $64.63 and a 200 day simple moving average of $70.81. 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 quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating 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 quarter in the previous year, the company earned $0.53 EPS. On average, sell-side analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

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.