8,614,554 Shares in Carrier Global Co. (NYSE:CARR) Acquired by Norges Bank

Norges Bank bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,614,554 shares of the company’s stock, valued at approximately $588,029,000.

Several other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Carrier Global in the third quarter worth about $590,000. FMR LLC lifted its holdings in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Townsquare Capital LLC boosted its stake in Carrier Global by 67.9% in the 3rd quarter. Townsquare Capital LLC now owns 16,337 shares of the company’s stock worth $1,315,000 after purchasing an additional 6,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $482,390,000 after buying an additional 110,988 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Carrier Global by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 40,285 shares of the company’s stock valued at $3,243,000 after buying an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. 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 research report on Wednesday, February 12th. 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 report on Wednesday. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Finally, Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Carrier Global Price Performance

Carrier Global stock opened at $63.28 on Friday. Carrier Global Co. has a 12-month low of $53.33 and a 12-month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $66.08 and a 200-day moving average price of $71.81. The firm has a market capitalization of $54.67 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts forecast that Carrier Global Co. will post 2.99 EPS 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.