Carrier Global Co. (NYSE:CARR) Shares Sold by Swedbank AB

Swedbank AB reduced its position in Carrier Global Co. (NYSE:CARR) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,098 shares of the company’s stock after selling 800 shares during the quarter. Swedbank AB’s holdings in Carrier Global were worth $32,928,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Carrier Global by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock valued at $381,877,000 after buying an additional 49,196 shares during the period. Victory Capital Management Inc. grew its stake in shares of Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Carrier Global by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after acquiring an additional 147,835 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Carrier Global by 0.8% in the third quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after acquiring an additional 20,500 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $78.86 on Tuesday. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34. The company has a 50-day simple moving average of $77.92 and a 200-day simple moving average of $70.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global declared that its board has initiated a share 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 reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently disclosed 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. This represents a $0.76 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CARR shares. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.