Wellington Management Group LLP Has $3.63 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Wellington Management Group LLP raised its holdings in Carrier Global Co. (NYSE:CARR) by 761.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,064 shares of the company’s stock after acquiring an additional 39,834 shares during the quarter. Wellington Management Group LLP’s holdings in Carrier Global were worth $3,627,000 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. Blue Trust Inc. increased its position in Carrier Global by 100.9% in the 2nd quarter. Blue Trust Inc. now owns 2,453 shares of the company’s stock valued at $143,000 after acquiring an additional 1,232 shares during the period. Summit Global Investments acquired a new stake in shares of Carrier Global during the second quarter worth $203,000. Busey Bank increased its position in shares of Carrier Global by 4.0% during the second quarter. Busey Bank now owns 10,973 shares of the company’s stock worth $692,000 after buying an additional 420 shares during the period. American National Bank increased its position in shares of Carrier Global by 11.3% during the second quarter. American National Bank now owns 2,326 shares of the company’s stock worth $147,000 after buying an additional 236 shares during the period. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of Carrier Global during the second quarter worth $217,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $83.50.

Carrier Global Stock Down 1.8 %

Carrier Global stock opened at $70.28 on Wednesday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market capitalization of $63.06 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The firm’s fifty day moving average price is $76.13 and its two-hundred day moving average price is $71.49. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its board has authorized a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global Company 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.