Mawer Investment Management Ltd. Sells 220,452 Shares of Carrier Global Co. (NYSE:CARR)

Mawer Investment Management Ltd. lessened its position in Carrier Global Co. (NYSE:CARR - Free Report) by 28.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 558,698 shares of the company's stock after selling 220,452 shares during the period. Mawer Investment Management Ltd. owned approximately 0.06% of Carrier Global worth $44,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its holdings in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company's stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. PineStone Asset Management Inc. increased its stake in Carrier Global by 139.7% in 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 in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Carrier Global by 1.7% during the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company's stock valued at $280,010,000 after acquiring an additional 72,633 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Carrier Global by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company's stock valued at $271,202,000 after purchasing an additional 147,835 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company's stock worth $206,206,000 after acquiring an additional 20,500 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.6 %

NYSE CARR traded down $0.48 during trading hours on Monday, hitting $74.05. The company's stock had a trading volume of 4,797,886 shares, compared to its average volume of 4,176,516. The company has a market capitalization of $66.44 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. 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 Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The company's 50-day simple moving average is $77.73 and its two-hundred day simple moving average is $69.89.

Carrier Global announced that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global's payout ratio is 19.24%.

Analyst Ratings Changes

CARR has been the topic of a number of recent research reports. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Wells Fargo & Company cut their price objective on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Oppenheimer boosted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. UBS Group upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and a consensus price target of $82.31.

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.