Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Carrier Global Co. (NYSE:CARR)

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Connor Clark & Lunn Investment Management Ltd. cut its position in Carrier Global Co. (NYSE:CARR – Get Rating) by 40.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,243 shares of the company’s stock after selling 131,396 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Carrier Global were worth $7,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fiera Capital Corp raised its position in shares of Carrier Global by 3.7% during the 2nd quarter. Fiera Capital Corp now owns 14,986,852 shares of the company’s stock valued at $534,431,000 after buying an additional 531,734 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Carrier Global by 8.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,394,883 shares of the company’s stock valued at $262,974,000 after buying an additional 550,548 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Carrier Global by 25.8% during the 2nd quarter. Renaissance Technologies LLC now owns 6,674,731 shares of the company’s stock valued at $238,021,000 after buying an additional 1,367,800 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Carrier Global by 11.9% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 5,162,352 shares of the company’s stock valued at $184,089,000 after buying an additional 547,683 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Carrier Global by 59.5% during the 1st quarter. Invesco Ltd. now owns 4,948,588 shares of the company’s stock valued at $226,992,000 after buying an additional 1,845,419 shares in the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carrier Global

In other news, VP Kyle Crockett sold 10,433 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $45.85, for a total value of $478,353.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kyle Crockett sold 10,433 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $45.85, for a total value of $478,353.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jurgen Timperman sold 102,552 shares of Carrier Global stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $43.57, for a total transaction of $4,468,190.64. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. Mizuho restated a “buy” rating and set a $53.00 price objective on shares of Carrier Global in a research report on Wednesday, February 8th. Citigroup increased their target price on shares of Carrier Global from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Cowen reduced their target price on shares of Carrier Global from $58.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Carrier Global from $44.00 to $46.00 in a report on Monday, December 5th. Finally, Argus increased their target price on shares of Carrier Global from $50.00 to $52.00 in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $45.13 on Wednesday. The firm has a market cap of $37.65 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.34. Carrier Global Co. has a 12-month low of $33.10 and a 12-month high of $48.48. The company has a quick ratio of 1.20, a current ratio of 1.64 and a debt-to-equity ratio of 1.08. The company’s fifty day simple moving average is $43.54 and its two-hundred day simple moving average is $41.37.

Carrier Global (NYSE:CARR – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. Carrier Global had a net margin of 17.31% and a return on equity of 26.86%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm earned $0.44 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Carrier Global Co. will post 2.55 EPS for the current year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Thursday, December 22nd were given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.64%. This is a boost from Carrier Global’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, December 21st. Carrier Global’s dividend payout ratio (DPR) is currently 18.05%.

Carrier Global Profile

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.