Carrier Global Co. (NYSE:CARR) Shares Sold by TCW Group Inc.

TCW Group Inc. lowered its stake in Carrier Global Co. (NYSE:CARR) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,481 shares of the company’s stock after selling 281 shares during the period. TCW Group Inc.’s holdings in Carrier Global were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Soltis Investment Advisors LLC raised its holdings in Carrier Global by 5.1% in the third quarter. Soltis Investment Advisors LLC now owns 12,730 shares of the company’s stock valued at $1,025,000 after acquiring an additional 615 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Carrier Global by 14.0% in the 3rd quarter. Toronto Dominion Bank now owns 289,988 shares of the company’s stock valued at $23,341,000 after purchasing an additional 35,550 shares during the last quarter. Wilson & Boucher Capital Management LLC raised its holdings in shares of Carrier Global by 19.2% in the 3rd quarter. Wilson & Boucher Capital Management LLC now owns 6,297 shares of the company’s stock valued at $507,000 after purchasing an additional 1,015 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Carrier Global by 33.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,635 shares of the company’s stock worth $927,000 after purchasing an additional 2,942 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CARR shares. Oppenheimer raised their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Mizuho boosted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $83.50.

Carrier Global Stock Down 0.2 %

CARR opened at $73.55 on Friday. The business has a 50 day simple moving average of $76.67 and a 200-day simple moving average of $71.23. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The stock has a market capitalization of $65.99 billion, a P/E ratio of 18.62, a P/E/G ratio of 2.73 and a beta of 1.33. 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 declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. 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 dividend on an annualized basis and a dividend yield of 1.22%. Carrier Global’s dividend payout ratio is 19.24%.

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