Meitav Investment House Ltd. Purchases 137,535 Shares of Carrier Global Co. (NYSE:CARR)

Meitav Investment House Ltd. increased its position in Carrier Global Co. (NYSE:CARR) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444,820 shares of the company’s stock after buying an additional 137,535 shares during the quarter. Meitav Investment House Ltd.’s holdings in Carrier Global were worth $30,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares during the period. Geode Capital Management LLC boosted its holdings in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC increased its position in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after purchasing an additional 269,538 shares during the period. FMR LLC raised its holdings in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Carrier Global by 1.9% in 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 period. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARR shares. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Citigroup decreased their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays dropped their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Friday, February 14th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Performance

NYSE CARR opened at $66.02 on Thursday. The company has a market cap of $57.33 billion, a P/E ratio of 10.51, a PEG ratio of 1.90 and a beta of 1.35. The company has a fifty day simple moving average of $67.73 and a 200 day simple moving average of $72.29. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the previous year, the company earned $0.53 earnings per share. Sell-side analysts predict that Carrier Global Co. will post 2.98 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is currently 14.33%.

Carrier Global declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Carrier Global

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.