Nisa Investment Advisors LLC Buys 1,222 Shares of Carrier Global Co. (NYSE:CARR)

Nisa Investment Advisors LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 242,675 shares of the company’s stock after buying an additional 1,222 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Carrier Global were worth $16,620,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CARR. FMR LLC boosted its position in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carrier Global in the third quarter worth $130,479,000. Point72 Asset Management L.P. acquired a new position in Carrier Global during the second quarter worth $58,415,000. Mizuho Securities USA LLC grew its position in Carrier Global by 1,428.4% in the third 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 in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.8 %

Carrier Global stock opened at $70.01 on Thursday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The stock has a market cap of $62.81 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.24 and a beta of 1.36. The company’s 50-day moving average price is $71.74 and its two-hundred day moving average price is $72.40. 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CARR has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer increased their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Eight 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.