Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Carrier Global Co. (NYSE:CARR)

Mirae Asset Global Investments Co. Ltd. grew its position in Carrier Global Co. (NYSE:CARR) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,179 shares of the company’s stock after buying an additional 17,861 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Carrier Global were worth $5,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC grew its position in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after acquiring an additional 1,904 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,018 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $2,213,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of several research analyst reports. 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. Wells Fargo & Company dropped 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 report on Tuesday, January 7th. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada lowered their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Northcoast Research initiated coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Down 1.6 %

CARR stock opened at $64.17 on Friday. The company’s 50 day moving average price is $69.45 and its 200 day moving average price is $72.35. The firm has a market capitalization of $57.58 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.