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

CX Institutional increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,612 shares of the company’s stock after acquiring 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.

Several other hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake in Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares in the last quarter. Geode Capital Management LLC boosted its stake in Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares in the last quarter. FMR LLC boosted its stake in 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after buying an additional 110,988 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARR. Wells Fargo & Company dropped their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Barclays dropped their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.