Patten Group Inc. Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

Patten Group Inc. lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,287 shares of the company’s stock after selling 639 shares during the quarter. Carrier Global comprises 1.0% of Patten Group Inc.’s portfolio, making the stock its 15th biggest holding. Patten Group Inc.’s holdings in Carrier Global were worth $4,525,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CARR. Bahl & Gaynor Inc. raised its position in Carrier Global by 0.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 100,696 shares of the company’s stock valued at $6,874,000 after purchasing an additional 744 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Carrier Global by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,837,382 shares of the company’s stock worth $330,200,000 after purchasing an additional 92,975 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Carrier Global by 0.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 111,270 shares of the company’s stock worth $7,595,000 after buying an additional 557 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of Carrier Global by 3.0% during the fourth quarter. Fidelis Capital Partners LLC now owns 8,719 shares of the company’s stock valued at $551,000 after acquiring an additional 252 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Carrier Global in the 4th quarter worth $98,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CARR shares. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Friday, February 14th. Citigroup decreased their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.47.

Carrier Global Stock Down 2.6 %

Shares of NYSE:CARR opened at $63.11 on Tuesday. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The stock has a market cap of $54.53 billion, a P/E ratio of 10.05, a PEG ratio of 2.01 and a beta of 1.35. The business has a fifty day moving average of $67.04 and a two-hundred day moving average of $72.39. 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 announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company earned $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.43%. Carrier Global’s dividend payout ratio (DPR) 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.