Grantham Mayo Van Otterloo & Co. LLC Trims Stake in Carrier Global Co. (NYSE:CARR)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 209,785 shares of the company’s stock after selling 58,600 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Carrier Global were worth $14,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Morse Asset Management Inc acquired a new stake in shares of Carrier Global during the third quarter valued at about $201,000. Quantinno Capital Management LP increased its holdings in Carrier Global by 116.9% in the 3rd quarter. Quantinno Capital Management LP now owns 47,906 shares of the company’s stock valued at $3,856,000 after purchasing an additional 25,822 shares during the last quarter. Stifel Financial Corp raised its position in Carrier Global by 4.3% in the third quarter. Stifel Financial Corp now owns 375,511 shares of the company’s stock valued at $30,225,000 after purchasing an additional 15,516 shares during the period. Weiss Asset Management LP acquired a new position in Carrier Global during the third quarter worth $1,528,000. Finally, Wellington Management Group LLP boosted its position in shares of Carrier Global by 761.6% during the third quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock worth $3,627,000 after buying an additional 39,834 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Down 6.0 %

NYSE:CARR opened at $57.06 on Monday. 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 Co. has a 1 year low of $48.50 and a 1 year high of $83.32. The stock 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 stock has a 50-day simple moving average of $65.27 and a 200-day simple moving average of $71.26.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results 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 return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARR has been the topic of several research reports. Barclays decreased their target price on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. raised shares of Carrier Global from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $78.00 in a research note on Wednesday, March 5th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday, February 24th. Finally, 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. Five investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.