ING Groep NV Invests $1.19 Million in Carrier Global Co. (NYSE:CARR)

ING Groep NV bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,783 shares of the company’s stock, valued at approximately $1,190,000.

A number of other institutional investors have also modified their holdings of CARR. Sargent Investment Group LLC increased its holdings in Carrier Global by 9.0% during the third quarter. Sargent Investment Group LLC now owns 44,704 shares of the company’s stock valued at $3,598,000 after buying an additional 3,690 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Carrier Global by 5.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,484 shares of the company’s stock valued at $1,890,000 after buying an additional 1,283 shares during the period. KBC Group NV increased its holdings in Carrier Global by 1.4% during the third quarter. KBC Group NV now owns 174,813 shares of the company’s stock valued at $14,071,000 after buying an additional 2,360 shares during the period. Huntington National Bank increased its holdings in Carrier Global by 2.8% during the third quarter. Huntington National Bank now owns 55,783 shares of the company’s stock valued at $4,490,000 after buying an additional 1,494 shares during the period. Finally, Main Street Financial Solutions LLC purchased a new position in Carrier Global during the third quarter valued at approximately $251,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Bank of America raised 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. Mizuho raised their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Trading Down 0.6 %

NYSE:CARR opened at $74.53 on Monday. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The firm has a fifty day simple moving average of $77.73 and a 200-day simple moving average of $69.89. 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 company has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a PEG ratio of 2.68 and a beta of 1.34.

Carrier Global Dividend Announcement

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

Carrier Global declared that its board has initiated a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Carrier Global

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.