32,420 Shares in Carrier Global Co. (NYSE:CARR) Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC bought a new stake in Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 32,420 shares of the company’s stock, valued at approximately $2,213,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CARR. State Street Corp grew its stake in 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 acquiring an additional 469,108 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after purchasing an additional 289,439 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Carrier Global by 1.9% during the 3rd 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 raised its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Carrier Global by 1.9% in 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 valued at $482,390,000 after buying an additional 110,988 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR stock opened at $67.18 on Tuesday. The stock has a 50-day moving average price of $72.45 and a two-hundred day moving average price of $72.13. The company has a market cap of $60.28 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. 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 Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

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

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 issued a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.34%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday. Barclays decreased their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Eight 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 stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $84.36.

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.