Illinois Municipal Retirement Fund boosted its holdings in Carrier Global Co. (NYSE:CARR) by 295.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,820 shares of the company’s stock after purchasing an additional 39,476 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Carrier Global were worth $2,230,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. FMR LLC increased its holdings in Carrier Global by 209.7% in the 4th quarter. FMR LLC now owns 23,904,135 shares of the company’s stock valued at $901,664,000 after buying an additional 16,186,449 shares during the period. Norges Bank bought a new position in Carrier Global in the 4th quarter valued at about $287,980,000. Morgan Stanley grew its holdings in shares of Carrier Global by 58.9% during the 4th quarter. Morgan Stanley now owns 6,745,883 shares of the company’s stock valued at $254,454,000 after purchasing an additional 2,501,097 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Carrier Global by 125.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,211,520 shares of the company’s stock valued at $121,139,000 after purchasing an additional 1,786,139 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in Carrier Global by 388.0% during the 4th quarter. Cibc World Markets Corp now owns 1,577,914 shares of the company’s stock worth $59,519,000 after acquiring an additional 1,254,540 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
CARR has been the topic of a number of research reports. Vertical Research raised shares of Carrier Global from a “hold” rating to a “buy” rating in a report on Monday, January 4th. Cowen upgraded shares of Carrier Global from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $43.00 in a research report on Tuesday, March 16th. Barclays boosted their price target on shares of Carrier Global from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 6th. UBS Group boosted their price target on shares of Carrier Global from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Finally, Royal Bank of Canada upgraded shares of Carrier Global from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $43.00 to $51.00 in a research report on Wednesday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $43.63.
Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Carrier Global had a net margin of 8.86% and a return on equity of 24.00%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities analysts forecast that Carrier Global Co. will post 1.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 24th. Investors of record on Monday, May 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, April 30th.
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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