Empowered Funds LLC Acquires 7,358 Shares of Carrier Global Co. (NYSE:CARR)

Empowered Funds LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,962 shares of the company's stock after buying an additional 7,358 shares during the quarter. Empowered Funds LLC's holdings in Carrier Global were worth $3,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. FMR LLC grew its stake in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global during the third quarter valued at about $130,479,000. Mizuho Securities USA LLC grew its stake in shares of Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock worth $79,484,000 after purchasing an additional 922,892 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after purchasing an additional 897,061 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company's stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Up 2.4 %

NYSE CARR traded up $1.52 during mid-day trading on Friday, reaching $65.19. The stock had a trading volume of 6,750,573 shares, compared to its average volume of 5,689,759. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The stock has a market cap of $58.49 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a fifty day moving average price of $68.17 and a 200 day moving average price of $72.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global announced that its board has approved a share repurchase program 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 programs are generally an indication that the company's management believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is 22.78%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CARR. Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, 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 research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and a consensus price target of $82.64.

Carrier Global Company 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.