State of Alaska Department of Revenue Has $8.25 Million Position in Carrier Global Co. (NYSE:CARR)

State of Alaska Department of Revenue lessened its holdings in Carrier Global Co. (NYSE:CARR) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,920 shares of the company’s stock after selling 2,420 shares during the quarter. State of Alaska Department of Revenue’s holdings in Carrier Global were worth $8,253,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CARR. FMR LLC lifted its holdings in shares of 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 purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Carrier Global during the 3rd quarter worth about $130,479,000. Mizuho Securities USA LLC grew its position in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after buying an additional 922,892 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares during the period. Finally, State Street Corp raised its position in shares of 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 during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the topic of several analyst reports. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company 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 report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Up 0.9 %

Shares of NYSE:CARR opened at $65.15 on Friday. The firm has a market cap of $58.45 billion, a P/E ratio of 16.49, a PEG ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The business’s 50 day simple moving average is $69.69 and its two-hundred day simple moving average is $72.40. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

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.