KBC Group NV Has $14.07 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

KBC Group NV grew its position in Carrier Global Co. (NYSE:CARR) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,813 shares of the company’s stock after buying an additional 2,360 shares during the period. KBC Group NV’s holdings in Carrier Global were worth $14,071,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CARR. Vanguard Group Inc. increased its holdings in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares in the last quarter. Capital International Investors grew 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 period. JPMorgan Chase & Co. increased its holdings in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Carrier Global by 1.7% during the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR opened at $74.53 on Friday. The firm’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $69.69. The stock has a market cap of $66.87 billion, a PE ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32.

Carrier Global declared that its Board of Directors has initiated a share 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 of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s payout ratio is presently 19.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday. Mizuho raised their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley began coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.31.

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.