Carrier Global Co. (NYSE:CARR) Position Boosted by AIA Group Ltd

AIA Group Ltd grew its position in Carrier Global Co. (NYSE:CARR - Free Report) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,253 shares of the company's stock after purchasing an additional 14,959 shares during the period. AIA Group Ltd's holdings in Carrier Global were worth $13,704,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in 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 acquiring an additional 17,021,768 shares during the period. Capital International Investors lifted its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company's stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted 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 worth $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Carrier Global in the second quarter worth $58,415,000. Finally, International Assets Investment Management LLC grew 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 acquiring an additional 897,061 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

CARR stock traded up $1.57 during mid-day trading on Friday, reaching $76.70. The company's stock had a trading volume of 2,539,154 shares, compared to its average volume of 4,149,510. Carrier Global Co. has a fifty-two week low of $50.31 and a fifty-two week high of $83.32. The company's 50 day moving average is $77.03 and its two-hundred day moving average is $68.99. The stock has a market cap of $68.82 billion, a PE ratio of 19.02, a P/E/G ratio of 2.60 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

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

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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global's dividend payout ratio (DPR) is currently 19.24%.

Analyst Ratings Changes

A number of brokerages have issued reports on CARR. Baird R W raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Monday, July 15th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective on the stock. Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Finally, Barclays lowered their price objective on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.33.

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.