Greenleaf Trust Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

Greenleaf Trust grew its holdings in Carrier Global Co. (NYSE:CARR) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. State Street Corp raised its position in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC raised its holdings in shares of Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after buying an additional 289,439 shares during the period. Fisher Asset Management LLC lifted its position in 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 acquiring an additional 269,538 shares in the last quarter. FMR LLC grew its position in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Carrier Global by 1.9% in the third 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 acquiring an additional 110,988 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CARR. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Royal Bank of Canada cut their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

Shares of CARR stock opened at $65.29 on Monday. The company has a market cap of $58.58 billion, a P/E ratio of 16.53, a PEG ratio of 2.10 and a beta of 1.36. The business has a 50 day moving average of $70.51 and a two-hundred day moving average of $72.47. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

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

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.