Baker Chad R Has $18.53 Million Position in Carrier Global Co. (NYSE:CARR)

Baker Chad R decreased its stake in Carrier Global Co. (NYSE:CARR) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,485 shares of the company’s stock after selling 225 shares during the period. Carrier Global makes up 3.6% of Baker Chad R’s portfolio, making the stock its 7th largest holding. Baker Chad R’s holdings in Carrier Global were worth $18,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. FMR LLC raised its holdings in Carrier Global by 36.2% in the 3rd 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. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global during the 3rd quarter worth about $130,479,000. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC grew its stake in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CARR shares. Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Performance

CARR opened at $69.74 on Friday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $72.10 and a 200 day simple moving average of $72.13.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s payout ratio is presently 22.78%.

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

About Carrier Global

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.