BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 19,867 Shares of Carrier Global Co. (NYSE:CARR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,305 shares of the company’s stock after selling 19,867 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Carrier Global were worth $10,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CARR. Verition Fund Management LLC increased its stake in shares of Carrier Global by 123.2% during the 3rd quarter. Verition Fund Management LLC now owns 278,569 shares of the company’s stock worth $22,422,000 after purchasing an additional 153,741 shares during the last quarter. Kingfisher Capital LLC purchased a new stake in shares of Carrier Global during the 3rd quarter worth approximately $228,000. Public Sector Pension Investment Board increased its stake in shares of Carrier Global by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 40,285 shares of the company’s stock worth $3,243,000 after purchasing an additional 4,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after purchasing an additional 110,988 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of Carrier Global by 10.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 43,369 shares of the company’s stock worth $3,491,000 after purchasing an additional 4,039 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR opened at $77.37 on Monday. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $69.42 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.86 and a beta of 1.34. The company has a fifty day moving average of $77.75 and a 200-day moving average of $70.75.

Carrier Global announced that its board has initiated 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 purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CARR. 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. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eight investment 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.31.

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.