CX Institutional Buys 968 Shares of Carrier Global Co. (NYSE:CARR)

CX Institutional increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 7.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,612 shares of the company’s stock after purchasing an additional 968 shares during the period. CX Institutional’s holdings in Carrier Global were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. FMR LLC boosted its position in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global during the third quarter worth $130,479,000. Mizuho Securities USA LLC boosted its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares during the last quarter. International Assets Investment Management LLC lifted its position in Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares during the last quarter. Finally, State Street Corp lifted its position in Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.2 %

Shares of CARR opened at $70.05 on Friday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a 50-day moving average of $71.42 and a 200 day moving average of $72.42. The firm has a market capitalization of $62.85 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens lowered their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Citigroup lowered their price objective 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. Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.