Carrier Global Co. (NYSE:CARR) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden grew its holdings in Carrier Global Co. (NYSE:CARR) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,800 shares of the company’s stock after purchasing an additional 17,600 shares during the period. Forsta AP Fonden’s holdings in Carrier Global were worth $13,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Olistico Wealth LLC acquired a new position in Carrier Global during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter worth about $32,000. Register Financial Advisors LLC acquired a new position in Carrier Global during the 1st quarter worth about $34,000. Finally, Hantz Financial Services Inc. acquired a new position in Carrier Global during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Barclays cut their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank of Canada cut their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday. Finally, 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. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.75.

Carrier Global Trading Up 1.4 %

CARR opened at $73.72 on Friday. Carrier Global Co. has a one year low of $45.68 and a one year high of $83.32. The company has a market cap of $66.42 billion, a P/E ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The business’s 50-day simple moving average is $76.46 and its 200-day simple moving average is $67.94.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Company 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.