Carrier Global Co. (NYSE:CARR) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,862,043 shares of the company's stock after acquiring an additional 19,331 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Carrier Global worth $149,876,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in Carrier Global during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Carrier Global during the second quarter worth about $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. boosted its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Friday, October 25th. Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price objective for the company. Finally, Barclays decreased their price objective on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.31.

Carrier Global Stock Performance

Shares of CARR stock traded up $0.91 during trading hours on Wednesday, hitting $76.35. The company's stock had a trading volume of 7,806,376 shares, compared to its average volume of 4,168,991. The stock has a market cap of $68.50 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. The company has a 50 day moving average of $77.36 and a 200 day moving average of $69.61. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 1.00%. Carrier Global's dividend payout ratio (DPR) is currently 19.24%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.