Stifel Financial Corp Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Stifel Financial Corp boosted its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,511 shares of the company's stock after acquiring an additional 15,516 shares during the quarter. Stifel Financial Corp's holdings in Carrier Global were worth $30,225,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its holdings in Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock worth $1,148,360,000 after purchasing an additional 269,538 shares during the last quarter. FMR LLC grew its holdings in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the period. PineStone Asset Management Inc. increased its position in Carrier Global by 139.7% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Carrier Global by 1.9% in 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 valued at $482,390,000 after acquiring an additional 110,988 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Carrier Global by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company's stock worth $381,877,000 after purchasing an additional 49,196 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.47 during midday trading on Monday, reaching $73.20. 3,768,311 shares of the company were exchanged, compared to its average volume of 4,201,347. 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 stock has a market cap of $65.68 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The business's fifty day moving average is $77.22 and its two-hundred day moving average is $71.08. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.23%. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CARR shares. Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price on the stock. Mizuho lifted 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. Finally, JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price target for the company. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.