Principal Financial Group Inc. Buys 105,995 Shares of Carrier Global Co. (NYSE:CARR)

Principal Financial Group Inc. lifted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,667,872 shares of the company's stock after acquiring an additional 105,995 shares during the period. Principal Financial Group Inc. owned 0.30% of Carrier Global worth $182,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CARR. FSM Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 136 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after buying an additional 137 shares during the period. UMB Bank n.a. lifted its stake in shares of Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after buying an additional 143 shares during the period. Essex Savings Bank lifted its stake in shares of Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company's stock valued at $532,000 after buying an additional 144 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after buying an additional 147 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of NYSE CARR traded down $1.02 during mid-day trading on Friday, hitting $66.10. 8,044,598 shares of the stock were exchanged, compared to its average volume of 6,002,274. The company has a market cap of $57.39 billion, a P/E ratio of 10.52, a PEG ratio of 1.97 and a beta of 1.35. The stock's fifty day simple moving average is $67.46 and its two-hundred day simple moving average is $72.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a twelve month low of $53.33 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the business earned $0.53 earnings per share. As a group, analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is currently 14.33%.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CARR shares. Robert W. Baird reduced their target price 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. Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price for the company in a research note on Friday, February 14th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a "buy" rating and a $96.00 target price for the company. Finally, Stephens reduced their target price on shares of 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. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $82.64.

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.