Principal Financial Group Inc. Increases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Principal Financial Group Inc. lifted its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,561,877 shares of the company's stock after buying an additional 20,500 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of Carrier Global worth $206,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company's stock valued at $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital International Investors increased its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company's stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company's stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the period. PineStone Asset Management Inc. lifted its holdings in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company's stock worth $280,010,000 after acquiring an additional 72,633 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. Barclays lowered their target price on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, Mizuho boosted their target price on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and a consensus price target of $81.33.

Carrier Global Stock Up 2.1 %

Carrier Global stock traded up $1.58 during mid-day trading on Friday, hitting $76.71. The company had a trading volume of 2,156,697 shares, compared to its average volume of 4,148,546. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 1 year low of $50.31 and a 1 year high of $83.32. The business has a fifty day moving average of $77.03 and a 200 day moving average of $68.99. The stock has a market cap of $68.83 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.60 and a beta of 1.34.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global's dividend payout ratio is currently 19.24%.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are 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.