Carrier Global Co. (NYSE:CARR) Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its holdings in Carrier Global Co. (NYSE:CARR) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,800 shares of the company’s stock after selling 1,000 shares during the period. Forsta AP Fonden’s holdings in Carrier Global were worth $11,727,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares during the period. Geode Capital Management LLC increased 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 purchasing an additional 289,439 shares during the period. Fisher Asset Management LLC lifted its position in shares of 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 purchasing an additional 269,538 shares in the last quarter. FMR LLC boosted its stake 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 valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Carrier Global by 1.9% during the 3rd 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 hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CARR. 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 note on Friday, October 25th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Bank of America raised their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Stock Performance

NYSE CARR opened at $65.90 on Friday. The business has a 50 day moving average price of $70.95 and a 200 day moving average price of $72.51. The company has a market capitalization of $59.12 billion, a P/E ratio of 16.68, a PEG ratio of 2.26 and a beta of 1.36. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. 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. Carrier Global’s dividend payout ratio is presently 22.78%.

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

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.