Principal Securities Inc. Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Principal Securities Inc. increased its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 128.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,919 shares of the company's stock after purchasing an additional 9,518 shares during the period. Principal Securities Inc.'s holdings in Carrier Global were worth $1,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company's stock worth $2,709,736,000 after buying an additional 469,108 shares during the period. Geode Capital Management LLC boosted its stake in Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company's stock worth $1,357,961,000 after buying an additional 289,439 shares during the period. Fisher Asset Management LLC boosted its stake in Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock worth $1,148,360,000 after buying an additional 269,538 shares during the period. FMR LLC boosted its stake in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after buying an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Carrier Global by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company's stock worth $482,390,000 after buying an additional 110,988 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.8 %

CARR stock traded down $1.24 during midday trading on Friday, reaching $65.87. 3,799,307 shares of the company were exchanged, compared to its average volume of 5,869,662. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The stock's 50-day simple moving average is $67.60 and its 200 day simple moving average is $72.26. The company has a market cap of $57.20 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 in the previous year, the company earned $0.53 EPS. On average, equities analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global's dividend payout ratio (DPR) is 14.33%.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent research reports. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a "buy" rating and a $96.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. 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 note on Friday, October 25th. Finally, UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.64.

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.