The Manufacturers Life Insurance Company Purchases 898 Shares of Carrier Global Co. (NYSE:CARR)

The Manufacturers Life Insurance Company grew its position in shares of Carrier Global Co. (NYSE:CARR) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 502,315 shares of the company’s stock after buying an additional 898 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Carrier Global worth $40,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. lifted its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CARR shares. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Mizuho raised their price target 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. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Barclays decreased their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Down 0.1 %

Carrier Global stock opened at $76.90 on Friday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $77.80 and a 200 day simple moving average of $70.58.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a dividend of $0.19 per share. 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%.

Carrier Global declared that its board has approved a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are 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.