Kingfisher Capital LLC Purchases Shares of 2,838 Carrier Global Co. (NYSE:CARR)

Kingfisher Capital LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,838 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds have also made changes to their positions in CARR. Public Sector Pension Investment Board grew its stake in shares of Carrier Global by 12.3% in the third quarter. Public Sector Pension Investment Board now owns 40,285 shares of the company’s stock valued at $3,243,000 after buying an additional 4,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after acquiring an additional 110,988 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Carrier Global by 10.3% during the third quarter. CreativeOne Wealth LLC now owns 43,369 shares of the company’s stock valued at $3,491,000 after purchasing an additional 4,039 shares during the period. BNP Paribas lifted its position in shares of Carrier Global by 14.4% during the third quarter. BNP Paribas now owns 17,275 shares of the company’s stock worth $1,391,000 after purchasing an additional 2,174 shares in the last quarter. Finally, RS Crum Inc. purchased a new position in shares of Carrier Global in the third quarter valued at $209,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of analyst reports. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Stephens lowered their price objective on 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. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Trading Down 0.1 %

NYSE CARR opened at $76.90 on Friday. 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 Co. has a one year low of $51.20 and a one year high of $83.32. The company has a 50-day simple moving average of $77.80 and a 200-day simple moving average of $70.58. The firm has a market capitalization of $69.00 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34.

Carrier Global announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

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

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.