Temasek Holdings Private Ltd Acquires New Holdings in Carrier Global Co. (NYSE:CARR)

Temasek Holdings Private Ltd acquired a new stake in Carrier Global Co. (NYSE:CARR - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 40,616 shares of the company's stock, valued at approximately $3,269,000.

A number of other institutional investors have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. raised its stake 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 purchasing an additional 405 shares in the last quarter. Finally, Country Trust Bank acquired a new position in Carrier Global during the third quarter worth approximately $40,000. Institutional investors own 91.00% of the company's stock.

Carrier Global Trading Down 0.9 %

CARR stock traded down $0.70 on Friday, reaching $73.29. The company's stock had a trading volume of 1,625,732 shares, compared to its average volume of 4,192,773. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The business has a fifty day simple moving average of $77.35 and a two-hundred day simple moving average of $70.95. The firm has a market cap of $65.76 billion, a PE ratio of 18.73, a PEG ratio of 2.80 and a beta of 1.33. Carrier Global Co. has a 12-month low of $52.54 and a 12-month high of $83.32.

Carrier Global declared that its Board of Directors has initiated a share 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 purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.04%. Carrier Global's dividend payout ratio is 19.24%.

Analyst Upgrades and Downgrades

CARR has been the topic of several recent research reports. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Mizuho upped 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. Bank of America boosted their price target on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Stephens lowered their price objective on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $82.54.

Carrier Global 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.