National Bank of Canada FI Acquires 155,089 Shares of Carrier Global Co. (NYSE:CARR)

National Bank of Canada FI boosted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 39.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 545,866 shares of the company's stock after acquiring an additional 155,089 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of Carrier Global worth $43,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Frank Rimerman Advisors LLC raised its position in shares of Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company's stock worth $864,000 after acquiring an additional 13,677 shares during the last quarter. Kintegral Advisory LLC lifted its position in Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company's stock valued at $1,797,000 after purchasing an additional 8,705 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in shares of Carrier Global in the 2nd quarter valued at about $7,720,000. Vista Investment Partners LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $744,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company's stock worth $8,084,000 after buying an additional 11,032 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.48 during trading on Monday, reaching $73.19. 3,768,679 shares of the stock were exchanged, compared to its average volume of 4,201,348. Carrier Global Co. has a 12 month low of $53.13 and a 12 month 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 company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $65.67 billion, a PE ratio of 18.51, a PEG ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.23%. Carrier Global's dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on CARR shares. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. Oppenheimer increased their target price 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. Barclays boosted their price target on shares of Carrier Global from $89.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.54.

About Carrier Global

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.