Carrier Global Co. (NYSE:CARR) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Carrier Global Co. (NYSE:CARR) by 39.0% during the third quarter, HoldingsChannel.com reports. The firm owned 136,821 shares of the company’s stock after buying an additional 38,365 shares during the period. Cerity Partners LLC’s holdings in Carrier Global were worth $11,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CARR. PineStone Asset Management Inc. boosted its stake in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $58,415,000. Mizuho Securities USA LLC lifted its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares during the last quarter. International Assets Investment Management LLC grew its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Finally, Swedbank AB bought a new stake in Carrier Global in the first quarter valued at about $24,600,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CARR shares. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Barclays dropped their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Performance

Shares of CARR opened at $76.91 on Wednesday. The company has a market capitalization of $69.01 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The company’s fifty day moving average price is $77.90 and its 200 day moving average price is $70.49.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.