Swiss National Bank Acquires 8,500 Shares of Carrier Global Co. (NYSE:CARR)

Swiss National Bank grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,406,985 shares of the company’s stock after acquiring an additional 8,500 shares during the quarter. Swiss National Bank owned 0.27% of Carrier Global worth $193,738,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in Carrier Global during the 2nd quarter worth approximately $25,000. McClarren Financial Advisors Inc. boosted its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new position in shares of Carrier Global in the third quarter worth approximately $37,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. Finally, Country Trust Bank bought a new stake in Carrier Global during the 3rd quarter valued at $40,000. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Mizuho increased their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Seven investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Performance

Shares of CARR opened at $74.53 on Monday. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $66.87 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.68 and a beta of 1.34. The business’s 50 day moving average price is $77.73 and its 200-day moving average price is $69.89.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board 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.