Dearborn Partners LLC Decreases Holdings in Carrier Global Co. (NYSE:CARR)

Dearborn Partners LLC lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,152 shares of the company’s stock after selling 1,122 shares during the period. Dearborn Partners LLC’s holdings in Carrier Global were worth $5,244,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares during the last quarter. Capital International Investors raised its stake in Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after buying an additional 72,633 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CARR shares. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. 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 research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $74.97 on Friday. 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 business has a 50 day simple moving average of $77.63 and a two-hundred day simple moving average of $69.69. The stock has a market capitalization of $67.27 billion, a P/E ratio of 18.98, a PEG ratio of 2.74 and a beta of 1.34. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is 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.