PNC Financial Services Group Inc. Has $85.32 Million Stock Position in Carrier Global Co. (NYSE:CARR)

PNC Financial Services Group Inc. boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,060,030 shares of the company’s stock after buying an additional 1,766 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of Carrier Global worth $85,322,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $37,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $40,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Robert W. Baird lowered their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Up 0.3 %

Shares of Carrier Global stock opened at $74.27 on Wednesday. The firm has a 50-day moving average of $77.84 and a 200-day moving average of $70.07. The stock has a market cap of $66.64 billion, a PE ratio of 18.80, a PEG ratio of 2.68 and a beta of 1.34. 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.

Carrier Global Dividend Announcement

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 $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Carrier Global’s payout ratio is presently 19.24%.

Carrier Global announced that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.