National Pension Service Grows Stake in Carrier Global Corporation $CARR

National Pension Service boosted its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,651,861 shares of the company’s stock after acquiring an additional 30,812 shares during the quarter. National Pension Service owned about 0.31% of Carrier Global worth $158,316,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AdvisorShares Investments LLC purchased a new stake in Carrier Global during the 2nd quarter valued at $25,000. Winnow Wealth LLC bought a new position in Carrier Global during the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Carrier Global in the second quarter valued at $26,000. Clayton Financial Group LLC bought a new stake in shares of Carrier Global in the 3rd quarter worth about $26,000. Finally, Traub Capital Management LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth about $27,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

CARR stock opened at $59.60 on Friday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The business has a 50-day moving average price of $54.57 and a 200 day moving average price of $59.80. The company has a market capitalization of $50.20 billion, a P/E ratio of 13.33, a PEG ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, January 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global announced that its board has authorized a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on CARR shares. The Goldman Sachs Group decreased their price objective on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Royal Bank Of Canada decreased their price target on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Barclays dropped their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Rothschild & Co Redburn reduced their target price on Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. Finally, UBS Group lowered their target price on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.