Avanza Fonder AB Makes New $5.22 Million Investment in Carrier Global Co. (NYSE:CARR)

Avanza Fonder AB bought a new stake in Carrier Global Co. (NYSE:CARR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 76,461 shares of the company's stock, valued at approximately $5,219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CARR. FMR LLC boosted its stake in shares of Carrier Global by 36.2% in the 3rd 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 acquired a new stake in shares of Carrier Global in the 3rd quarter valued at $130,479,000. Point72 Asset Management L.P. acquired a new position in Carrier Global during the 2nd quarter worth about $58,415,000. Mizuho Securities USA LLC lifted its position in Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock worth $79,484,000 after buying an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC lifted 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 buying an additional 897,061 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of CARR stock remained flat at $69.74 on Friday. The stock had a trading volume of 4,601,408 shares, compared to its average volume of 4,039,499. 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 firm has a market capitalization of $62.57 billion, a PE ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The stock's 50 day simple moving average is $71.96 and its 200-day simple moving average is $72.18. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global announced that its board has initiated a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global's dividend payout ratio is presently 22.78%.

Analyst Ratings Changes

Several research analysts recently issued reports on CARR shares. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $87.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. UBS Group upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $83.93.

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.