Primecap Management Co. CA Buys 291,350 Shares of Carrier Global Co. (NYSE:CARR)

Primecap Management Co. CA increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 14.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,374,582 shares of the company’s stock after acquiring an additional 291,350 shares during the period. Primecap Management Co. CA owned about 0.26% of Carrier Global worth $162,089,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CARR. State Street Corp raised its stake in Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after acquiring an additional 469,108 shares during the period. Geode Capital Management LLC increased its holdings in shares of Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after purchasing an additional 289,439 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the period. FMR LLC raised its position in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after buying an additional 110,988 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CARR shares. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Friday, February 14th. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company reduced 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 research report on Wednesday, February 12th. Five research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.53.

Carrier Global Price Performance

CARR stock opened at $67.25 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $66.38 and its 200 day simple moving average is $72.04. Carrier Global Co. has a 12-month low of $53.33 and a 12-month high of $83.32. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released 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 posted $0.53 earnings per share. On average, analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Company 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.