West Family Investments Inc. Acquires Shares of 3,544 Carrier Global Co. (NYSE:CARR)

West Family Investments Inc. acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 3,544 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after acquiring an additional 72,633 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Carrier Global by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock valued at $271,202,000 after acquiring an additional 147,835 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after acquiring an additional 20,500 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $74.27 on Wednesday. The company has a 50 day moving average price of $77.84 and a 200-day moving average price of $70.07. 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. The company has a market capitalization of $66.64 billion, a PE ratio of 18.80, a P/E/G ratio of 2.68 and a beta of 1.34.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CARR. Stephens lowered their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. 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 company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.31.

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.