Allstate Corp Purchases New Holdings in Carrier Global Co. (NYSE:CARR)

Allstate Corp acquired a new position in Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,748 shares of the company’s stock, valued at approximately $1,621,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. boosted its stake in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global during the 4th quarter valued at about $31,000. Roxbury Financial LLC bought a new stake in Carrier Global in the fourth quarter valued at about $49,000. Finally, Centricity Wealth Management LLC acquired a new position in Carrier Global in the fourth quarter worth about $49,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $63.28 on Monday. The stock has a market capitalization of $54.67 billion, a P/E ratio of 10.08, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The business has a 50-day moving average price of $66.08 and a two-hundred day moving average price of $71.79.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 period last year, the company earned $0.53 EPS. Equities analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CARR. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Barclays reduced their target price on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Finally, 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. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.27.

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.