PineStone Asset Management Inc. Grows Position in Carrier Global Co. (NYSE:CARR)

PineStone Asset Management Inc. raised its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,205,847 shares of the company's stock after buying an additional 98,751 shares during the quarter. Carrier Global comprises about 2.7% of PineStone Asset Management Inc.'s holdings, making the stock its 14th largest position. PineStone Asset Management Inc. owned 0.47% of Carrier Global worth $287,091,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Carrier Global by 36.2% in 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 in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Carrier Global in the 3rd quarter worth about $130,479,000. Mizuho Securities USA LLC boosted its holdings in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock worth $79,484,000 after purchasing an additional 922,892 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Finally, 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 worth $2,709,736,000 after purchasing an additional 469,108 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CARR. Barclays cut their price objective on Carrier Global from $90.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their target price on Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Finally, Citigroup dropped their target price on Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.64.

Carrier Global Trading Down 0.9 %

CARR traded down $0.57 during midday trading on Wednesday, reaching $66.02. 5,168,329 shares of the company's stock traded hands, compared to its average volume of 5,938,870. The firm has a fifty day moving average of $67.73 and a two-hundred day moving average of $72.29. The stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts anticipate that Carrier Global Co. will post 2.98 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is presently 14.33%.

Carrier Global declared that its board has approved a share buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.