Electron Capital Partners LLC Increases Position in Carrier Global Co. (NYSE:CARR)

Electron Capital Partners LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 31.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 736,019 shares of the company’s stock after purchasing an additional 175,255 shares during the period. Carrier Global accounts for about 2.6% of Electron Capital Partners LLC’s portfolio, making the stock its 16th largest holding. Electron Capital Partners LLC’s holdings in Carrier Global were worth $50,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CARR. UMB Bank n.a. increased its stake in Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after purchasing an additional 143 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after buying an additional 147 shares during the last quarter. Hanson & Doremus Investment Management boosted its position in shares of Carrier Global by 6.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company’s stock worth $176,000 after acquiring an additional 150 shares during the last quarter. Syon Capital LLC boosted its holdings in shares of Carrier Global by 2.2% in the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after purchasing an additional 155 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. grew its position in 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 acquiring an additional 160 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CARR shares. Royal Bank of Canada lowered their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company lowered 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 raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Monday, February 24th. Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $79.73.

Carrier Global Price Performance

Shares of CARR opened at $60.55 on Tuesday. The firm has a market capitalization of $52.31 billion, a PE ratio of 9.64, a P/E/G ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a 50 day simple moving average of $63.10 and a 200 day simple moving average of $68.64.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping 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 business earned $0.53 earnings per share. Sell-side analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be given a dividend of $0.225 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.49%. Carrier Global’s dividend payout ratio is 14.33%.

About Carrier Global

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.