Boston Common Asset Management LLC Acquires 1,022 Shares of Carrier Global Co. (NYSE:CARR)

Boston Common Asset Management LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 306,196 shares of the company’s stock after acquiring an additional 1,022 shares during the period. Boston Common Asset Management LLC’s holdings in Carrier Global were worth $20,901,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC increased its position in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the last quarter. Cerity Partners LLC increased its holdings in Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after buying an additional 38,365 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after acquiring an additional 11,032 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Carrier Global in the 3rd quarter worth $1,068,000. Finally, Miracle Mile Advisors LLC purchased a new stake in Carrier Global in the fourth quarter worth about $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock traded up $0.67 during midday trading on Friday, reaching $70.41. 675,111 shares of the stock traded hands, compared to its average volume of 3,991,401. The stock has a market cap of $63.17 billion, a P/E ratio of 17.84, a PEG ratio of 2.03 and a beta of 1.36. The stock’s fifty day moving average is $72.21 and its 200-day moving average is $72.14. 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 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CARR has been the topic of a number of analyst reports. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price target 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. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.