Janus Henderson Group PLC lowered its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 16.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,983 shares of the company's stock after selling 49,849 shares during the period. Janus Henderson Group PLC's holdings in Carrier Global were worth $19,878,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of CARR. Fisher Asset Management LLC boosted its stake 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 acquiring an additional 269,538 shares during the last quarter. FMR LLC boosted its stake in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Carrier Global by 1.9% during 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 buying an additional 110,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Carrier Global by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company's stock valued at $381,877,000 after buying an additional 49,196 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.
Wall Street Analyst Weigh In
CARR has been the topic of a number of analyst reports. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Barclays upped their target price on Carrier Global from $89.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Finally, Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $82.54.
View Our Latest Stock Report on Carrier Global
Carrier Global Trading Down 0.4 %
CARR traded down $0.32 during trading on Friday, hitting $73.67. 3,926,809 shares of the company's stock were exchanged, compared to its average volume of 4,535,060. Carrier Global Co. has a 1 year low of $52.54 and a 1 year high of $83.32. The stock has a 50 day moving average price of $77.22 and a 200 day moving average price of $71.08. The firm has a market cap of $66.10 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.79 and a beta of 1.33. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 yield of 1.22%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is 19.24%.
Carrier Global declared that its Board of Directors has approved a share buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Carrier Global Company Profile
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Free Report)
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.
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