TCW Group Inc. Invests $775,000 in Carrier Global Co. (NYSE:CARR)

TCW Group Inc. acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,445 shares of the company’s stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. AXS Investments LLC increased its stake in shares of Carrier Global by 10.9% in the fourth quarter. AXS Investments LLC now owns 24,041 shares of the company’s stock worth $1,381,000 after purchasing an additional 2,354 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in Carrier Global by 339.2% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 41,976 shares of the company’s stock worth $2,412,000 after buying an additional 32,418 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in Carrier Global by 74.2% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 57,824 shares of the company’s stock valued at $3,322,000 after acquiring an additional 24,625 shares during the period. Aigen Investment Management LP purchased a new position in shares of Carrier Global in the fourth quarter valued at about $1,391,000. Finally, Assetmark Inc. boosted its stake in shares of Carrier Global by 84.0% in the fourth quarter. Assetmark Inc. now owns 192,700 shares of the company’s stock worth $11,071,000 after acquiring an additional 87,996 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CARR shares. TD Cowen lifted their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Oppenheimer lifted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird upped their target price on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Hold” and a consensus price target of $62.71.

Carrier Global Trading Up 2.0 %

NYSE CARR traded up $1.30 during trading hours on Friday, hitting $65.65. 2,161,625 shares of the company were exchanged, compared to its average volume of 4,239,807. Carrier Global Co. has a 52 week low of $40.49 and a 52 week high of $66.50. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $59.81 and a 200 day moving average price of $56.82. The stock has a market cap of $59.15 billion, a PE ratio of 45.91, a price-to-earnings-growth ratio of 2.65 and a beta of 1.34.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, May 2nd. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is currently owned by insiders.

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.