Terra Alpha Investments LLC Invests $1.97 Million in Carrier Global Corporation $CARR

Terra Alpha Investments LLC bought a new stake in Carrier Global Corporation (NYSE:CARR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 33,073 shares of the company’s stock, valued at approximately $1,974,000. Carrier Global makes up about 2.0% of Terra Alpha Investments LLC’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors also recently bought and sold shares of CARR. Vanguard Group Inc. boosted its holdings in Carrier Global by 0.5% in the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after purchasing an additional 450,594 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Carrier Global by 3.1% during the 2nd quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock worth $1,101,404,000 after buying an additional 448,055 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Carrier Global by 6.3% in the 2nd quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock valued at $752,533,000 after buying an additional 607,901 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Carrier Global in the 2nd quarter valued at $524,939,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.3%

Shares of CARR stock opened at $59.60 on Friday. The company has a market capitalization of $50.20 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $54.57 and its two-hundred day moving average is $59.80. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.6%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is presently 21.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. UBS Group decreased their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. The Goldman Sachs Group reduced their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

About Carrier Global

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.