National Pension Service Buys 30,812 Shares of Carrier Global Corporation $CARR

National Pension Service boosted its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,651,861 shares of the company’s stock after purchasing an additional 30,812 shares during the quarter. National Pension Service’s holdings in Carrier Global were worth $158,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CARR. AlphaQuest LLC lifted its position in shares of Carrier Global by 103.5% during the third quarter. AlphaQuest LLC now owns 18,241 shares of the company’s stock valued at $1,089,000 after buying an additional 9,277 shares during the last quarter. Pegasus Asset Management Inc. raised its stake in shares of Carrier Global by 1.5% during the 3rd quarter. Pegasus Asset Management Inc. now owns 83,681 shares of the company’s stock worth $4,996,000 after acquiring an additional 1,258 shares in the last quarter. Patton Albertson Miller Group LLC purchased a new stake in Carrier Global during the third quarter valued at approximately $276,000. Strategic Advisors LLC boosted its stake in Carrier Global by 8.0% in the third quarter. Strategic Advisors LLC now owns 3,512 shares of the company’s stock valued at $210,000 after acquiring an additional 259 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in Carrier Global by 6.5% in the third quarter. LRI Investments LLC now owns 61,092 shares of the company’s stock worth $3,647,000 after purchasing an additional 3,720 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CARR. JPMorgan Chase & Co. increased their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. The Goldman Sachs Group decreased their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Morgan Stanley set a $55.00 price objective on shares of Carrier Global in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Carrier Global Stock Down 0.3%

CARR stock opened at $59.60 on Friday. The company has a market capitalization of $50.20 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $81.09. The firm’s fifty day simple moving average is $54.57 and its 200-day simple moving average is $59.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.