Carrier Global Co. (NYSE:CARR) Stock Holdings Increased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,539 shares of the company's stock after acquiring an additional 10,313 shares during the period. Pacer Advisors Inc.'s holdings in Carrier Global were worth $6,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC raised its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock worth $513,000 after buying an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. boosted its holdings in Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after purchasing an additional 143 shares in the last quarter. Essex Savings Bank increased its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after purchasing an additional 144 shares during the period. Finally, Boston Financial Mangement LLC raised its stake in shares of Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock worth $741,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Up 1.7 %

Shares of NYSE CARR traded up $1.10 during midday trading on Thursday, reaching $65.90. 5,836,862 shares of the stock were exchanged, compared to its average volume of 5,525,570. The company has a market capitalization of $59.12 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36. 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 Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The stock has a 50 day moving average price of $70.95 and a 200-day moving average price of $72.51.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho upped 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. Royal Bank of Canada cut their price target on shares of Carrier Global from $87.00 to $86.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.