Geode Capital Management LLC Has $1.36 Billion Stock Holdings in Carrier Global Co. (NYSE:CARR)

Geode Capital Management LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,937,689 shares of the company's stock after acquiring an additional 289,439 shares during the quarter. Geode Capital Management LLC owned about 1.89% of Carrier Global worth $1,357,961,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp raised its holdings 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 valued at $2,709,736,000 after buying an additional 469,108 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock valued at $1,148,360,000 after buying an additional 269,538 shares during the last quarter. FMR LLC boosted 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 acquiring an additional 2,320,909 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Carrier Global by 1.9% during the 3rd 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 purchasing an additional 110,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Carrier Global by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company's stock valued at $381,877,000 after purchasing an additional 49,196 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

NYSE:CARR traded up $0.90 on Wednesday, hitting $73.71. The company's stock had a trading volume of 3,394,815 shares, compared to its average volume of 4,199,828. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The firm has a market capitalization of $66.13 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The stock has a fifty day moving average of $76.94 and a two-hundred day moving average of $71.19. 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 declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date 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 is presently 19.24%.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They set an "equal weight" rating and a $75.00 target price for the company. Royal Bank of Canada dropped their price target on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $82.54.

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.