Public Sector Pension Investment Board Acquires 4,400 Shares of Carrier Global Co. (NYSE:CARR)

Public Sector Pension Investment Board grew its holdings in Carrier Global Co. (NYSE:CARR) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,285 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Carrier Global were worth $3,243,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after acquiring an additional 269,538 shares in the last quarter. FMR LLC lifted its holdings in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 buying an additional 110,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Carrier Global by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock valued at $381,877,000 after buying an additional 49,196 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $75.58 on Wednesday. The company has a market capitalization of $67.81 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33. 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’s fifty day moving average price is $77.56 and its 200 day moving average price is $70.90. Carrier Global Co. has a 1 year low of $52.28 and a 1 year high of $83.32.

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

Carrier Global Announces Dividend

The firm also recently announced 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Analyst Ratings Changes

CARR has been the subject of several research analyst reports. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.31.

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.