OFI Invest Asset Management Acquires New Shares in Carrier Global Co. (NYSE:CARR)

OFI Invest Asset Management purchased a new stake in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 661,249 shares of the company’s stock, valued at approximately $43,589,000. Carrier Global comprises about 1.0% of OFI Invest Asset Management’s portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. State Street Corp lifted its stake in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC raised its position in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock worth $977,028,000 after acquiring an additional 46,222 shares during the last quarter. FMR LLC grew its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after purchasing an additional 110,988 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Friday, February 14th. Royal Bank of Canada dropped their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.53.

Carrier Global Price Performance

Carrier Global stock opened at $67.36 on Friday. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $66.68 and its 200 day moving average is $72.27. The company has a market cap of $58.20 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (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 business posted $0.53 EPS. 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.