Massachusetts Financial Services Co. MA Cuts Position in Carrier Global Co. (NYSE:CARR)

Massachusetts Financial Services Co. MA trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,685 shares of the company’s stock after selling 146,189 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.09% of Carrier Global worth $54,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Carrier Global during the third quarter valued at $3,497,000. IHT Wealth Management LLC raised its position in shares of Carrier Global by 139.7% during the 3rd quarter. IHT Wealth Management LLC now owns 10,991 shares of the company’s stock valued at $883,000 after buying an additional 6,405 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Carrier Global in the 3rd quarter valued at about $201,000. Royal London Asset Management Ltd. lifted its holdings in shares of Carrier Global by 1.8% in the 3rd quarter. Royal London Asset Management Ltd. now owns 373,079 shares of the company’s stock valued at $30,029,000 after acquiring an additional 6,727 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Carrier Global by 116.9% in the third quarter. Quantinno Capital Management LP now owns 47,906 shares of the company’s stock worth $3,856,000 after acquiring an additional 25,822 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CARR. The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $77.00 to $78.00 in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five 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 company’s stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.27.

Carrier Global Trading Down 6.0 %

NYSE:CARR opened at $57.06 on Friday. The firm has a 50-day simple moving average of $65.27 and a 200-day simple moving average of $71.31. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The firm has a market cap of $49.30 billion, a P/E ratio of 9.09, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping 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 in the prior year, the business earned $0.53 earnings per share. Equities analysts anticipate 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.