MetLife Investment Management LLC Has $17.57 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

MetLife Investment Management LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 218,296 shares of the company’s stock after selling 5,224 shares during the period. MetLife Investment Management LLC’s holdings in Carrier Global were worth $17,571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth $25,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 246.0% during 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 period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $76.89 on Thursday. The company has a 50 day moving average of $77.87 and a 200-day moving average of $70.54. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $68.99 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global’s payout ratio is currently 19.24%.

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

Analyst Ratings Changes

Several research firms have weighed in on CARR. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently 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.