CIBC Asset Management Inc Purchases 5,044 Shares of Carrier Global Co. (NYSE:CARR)

CIBC Asset Management Inc boosted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,154 shares of the company's stock after purchasing an additional 5,044 shares during the quarter. CIBC Asset Management Inc's holdings in Carrier Global were worth $8,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CARR. State Street Corp raised its holdings in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company's stock valued at $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company's stock worth $1,357,961,000 after buying an additional 289,439 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock valued at $1,148,360,000 after purchasing an additional 269,538 shares in the last quarter. FMR LLC boosted its holdings in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company's stock worth $482,390,000 after acquiring an additional 110,988 shares in the last quarter. Institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

CARR has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Barclays reduced their price target on Carrier Global from $90.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 12th. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. JPMorgan Chase & Co. lowered their price objective on Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a "buy" rating and a $96.00 price target for the company. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $82.64.

Carrier Global Stock Down 1.5 %

Shares of NYSE CARR traded down $1.02 during midday trading on Friday, reaching $66.10. 8,044,598 shares of the company's stock were exchanged, compared to its average volume of 6,002,274. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The stock has a market capitalization of $57.39 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The business's fifty day moving average price is $67.60 and its two-hundred day moving average price is $72.26.

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

Carrier Global Increases Dividend

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

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

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.