Fmr LLC Has $702.60 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Fmr LLC raised its holdings in Carrier Global Co. (NYSE:CARR) by 36.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,729,073 shares of the company’s stock after acquiring an additional 2,320,909 shares during the quarter. Fmr LLC’s holdings in Carrier Global were worth $702,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. FSM Wealth Advisors LLC boosted its stake in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares during the last quarter. Essex Savings Bank boosted its stake in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the last quarter. Boston Financial Mangement LLC boosted its stake in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC boosted its stake in Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $76.90 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $69.00 billion, a PE ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32. The company has a 50-day moving average price of $77.80 and a two-hundred day moving average price of $70.58.

Carrier Global declared that its board has approved 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Analysts Set New Price Targets

CARR has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America raised their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

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.