AIA Group Ltd Purchases 14,959 Shares of Carrier Global Co. (NYSE:CARR)

AIA Group Ltd lifted its position in Carrier Global Co. (NYSE:CARR) by 9.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 170,253 shares of the company’s stock after buying an additional 14,959 shares during the period. AIA Group Ltd’s holdings in Carrier Global were worth $13,704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. FSM Wealth Advisors LLC increased its stake in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the last quarter. Boston Financial Mangement LLC increased its stake in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares during the last quarter. Sittner & Nelson LLC increased its stake in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares during the last quarter. Marathon Capital Management increased its stake in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Carrier Global by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock valued at $982,000 after acquiring an additional 159 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Trading Down 0.3 %

Shares of Carrier Global stock opened at $75.13 on Friday. The company’s fifty day simple moving average is $77.03 and its 200-day simple moving average is $68.99. The stock has a market capitalization of $67.41 billion, a PE ratio of 19.02, a P/E/G ratio of 2.60 and a beta of 1.34. Carrier Global Co. has a 1-year low of $50.31 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global declared that its Board of Directors has authorized a stock buyback 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 often a sign that the company’s board of directors believes its stock is 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.