Carrier Global Co. (NYSE:CARR) Shares Purchased by Greenleaf Trust

Greenleaf Trust raised its holdings in Carrier Global Co. (NYSE:CARR) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,480 shares of the company’s stock after purchasing an additional 276 shares during the quarter. Greenleaf Trust’s holdings in Carrier Global were worth $1,603,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. FMR LLC raised its position in 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 buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Carrier Global during the third quarter worth about $130,479,000. Mizuho Securities USA LLC lifted its position in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the period. International Assets Investment Management LLC boosted its holdings in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Bank of America boosted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Performance

NYSE CARR opened at $65.29 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $58.58 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36. The business’s 50-day moving average price is $70.51 and its 200 day moving average price is $72.47. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32.

Carrier Global declared that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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 given a $0.225 dividend. 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. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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.