National Pension Service Has $152.83 Million Stock Position in Carrier Global Co. (NYSE:CARR)

National Pension Service grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 7.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,898,739 shares of the company’s stock after acquiring an additional 137,971 shares during the period. National Pension Service’s holdings in Carrier Global were worth $152,830,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Capital International Investors boosted its holdings in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Carrier Global during the second quarter worth about $58,415,000. Finally, International Assets Investment Management LLC boosted its holdings 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 worth $730,250,000 after purchasing an additional 897,061 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Carrier Global stock opened at $72.40 on Tuesday. The firm’s 50 day simple moving average is $76.90 and its 200 day simple moving average is $68.80. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $64.96 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 1-year low of $49.62 and a 1-year high of $83.32.

Carrier Global declared that its board has approved a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company dropped their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $81.33.

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.