BNP Paribas Boosts Holdings in Carrier Global Co. (NYSE:CARR)

BNP Paribas boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 14.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 17,275 shares of the company’s stock after buying an additional 2,174 shares during the quarter. BNP Paribas’ holdings in Carrier Global were worth $1,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. 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 buying an additional 269,538 shares during the period. FMR LLC boosted its stake 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 valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Carrier Global by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock valued at $381,877,000 after purchasing an additional 49,196 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Carrier Global by 1.7% during the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CARR shares. Barclays lowered their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Bank of America boosted 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. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. 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. Finally, Wells Fargo & Company lowered their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $76.89 on Thursday. The company has a 50 day moving average price of $77.87 and a 200 day moving average price of $70.54. The firm has a market capitalization of $68.99 billion, a P/E ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.