Charles Schwab Investment Management Inc. Purchases 49,196 Shares of Carrier Global Co. (NYSE:CARR)

Charles Schwab Investment Management Inc. increased its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,744,407 shares of the company's stock after purchasing an additional 49,196 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.53% of Carrier Global worth $381,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. lifted its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global in the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after buying an additional 310 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Up 1.3 %

Shares of NYSE:CARR traded up $0.99 during trading hours on Friday, hitting $77.00. 4,481,338 shares of the company's stock traded hands, compared to its average volume of 4,844,869. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a fifty day moving average price of $77.88 and a 200-day moving average price of $70.23. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The firm has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.34.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global's dividend payout ratio (DPR) is 19.24%.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. 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 report on Wednesday, November 13th. Wells Fargo & Company cut their price target on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Barclays dropped their price target on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird lowered 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. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.31.

Carrier Global 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.