Meitav Investment House Ltd. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Meitav Investment House Ltd. grew its position in Carrier Global Co. (NYSE:CARR - Free Report) by 44.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 444,820 shares of the company's stock after buying an additional 137,535 shares during the period. Meitav Investment House Ltd.'s holdings in Carrier Global were worth $30,363,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Carrier Global by 1.4% in 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 boosted its stake in 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 purchasing an additional 289,439 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock worth $1,148,360,000 after purchasing an additional 269,538 shares in the last quarter. FMR LLC lifted its stake in Carrier Global by 36.2% during the 3rd 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $482,390,000 after acquiring an additional 110,988 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CARR shares. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a "neutral" rating for the company. Mizuho raised shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price target for the company in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price for the company. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.64.

Carrier Global Trading Down 1.5 %

NYSE CARR traded down $1.02 during trading hours on Friday, reaching $66.10. The company had a trading volume of 8,044,598 shares, compared to its average volume of 6,002,274. The stock has a 50-day moving average of $67.60 and a 200 day moving average of $72.26. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $57.39 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the firm earned $0.53 EPS. As a group, research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

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

Carrier Global Increases Dividend

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

Carrier Global 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.