Financial Life Planners Purchases New Shares in Carrier Global Co. (NYSE:CARR)

Financial Life Planners bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,680 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds also recently made changes to their positions in CARR. FMR LLC raised its position in 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 in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global in the third quarter worth about $130,479,000. Mizuho Securities USA LLC grew its holdings in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the last quarter. International Assets Investment Management LLC increased its position in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Finally, State Street Corp lifted its stake in Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CARR shares. Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays lowered their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Finally, Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight 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 stock. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Down 1.0 %

CARR opened at $65.29 on Monday. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a 50 day moving average of $70.51 and a 200 day moving average of $72.50. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market cap of $58.58 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35.

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 given a $0.225 dividend. This is a positive change 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 1.38%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its board has approved a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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.