Arrowstreet Capital Limited Partnership Cuts Stake in Carrier Global Co. (NYSE:CARR)

Arrowstreet Capital Limited Partnership cut its stake in Carrier Global Co. (NYSE:CARR) by 60.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,386 shares of the company’s stock after selling 83,821 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Carrier Global were worth $3,712,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Carrier Global in the third quarter worth approximately $201,000. Wellington Management Group LLP boosted its stake in Carrier Global by 761.6% during the 3rd quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock worth $3,627,000 after purchasing an additional 39,834 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Carrier Global by 103.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,247 shares of the company’s stock worth $2,918,000 after buying an additional 18,474 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Carrier Global by 48.8% in the third quarter. EP Wealth Advisors LLC now owns 21,708 shares of the company’s stock valued at $1,747,000 after buying an additional 7,119 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Carrier Global by 7.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 238,988 shares of the company’s stock valued at $19,236,000 after buying an additional 15,609 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CARR. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on 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. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup dropped their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada cut 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. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Stock Down 2.4 %

NYSE:CARR opened at $55.46 on Wednesday. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. The stock’s fifty day moving average is $64.63 and its two-hundred day moving average is $70.81. The stock has a market capitalization of $47.92 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (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 firm earned $0.53 EPS. Research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

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.