Principal Financial Group Inc. boosted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,561,877 shares of the company's stock after purchasing an additional 20,500 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Carrier Global worth $206,206,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SMART Wealth LLC purchased a new position in shares of Carrier Global in the third quarter valued at $218,000. Garden State Investment Advisory Services LLC grew its stake in shares of Carrier Global by 2.8% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company's stock worth $480,000 after buying an additional 161 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Carrier Global by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 224,323 shares of the company's stock worth $18,545,000 after buying an additional 2,596 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Carrier Global by 1.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 176,984 shares of the company's stock valued at $14,246,000 after buying an additional 2,397 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Carrier Global by 280.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,717 shares of the company's stock worth $2,794,000 after purchasing an additional 25,594 shares in the last quarter. Institutional investors own 91.00% of the company's stock.
Carrier Global Trading Up 2.7 %
NYSE:CARR traded up $1.80 during trading hours on Friday, hitting $68.49. The company had a trading volume of 11,168,972 shares, compared to its average volume of 4,275,770. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a market cap of $61.45 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.73 and a beta of 1.33. The company has a 50-day moving average of $75.29 and a 200 day moving average of $71.47. 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is presently 22.78%.
Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
CARR has been the topic of several research reports. Stephens cut their target price on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price for the company. Wolfe Research upgraded shares of Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.
Read Our Latest Analysis on Carrier Global
About Carrier Global
(
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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