Windward Capital Management Co. CA Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Windward Capital Management Co. CA grew its holdings in Carrier Global Co. (NYSE:CARR) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,723 shares of the company’s stock after purchasing an additional 418 shares during the quarter. Carrier Global makes up 1.0% of Windward Capital Management Co. CA’s portfolio, making the stock its 29th biggest position. Windward Capital Management Co. CA’s holdings in Carrier Global were worth $12,454,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Capital International Investors grew its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Carrier Global during the second quarter valued at approximately $58,415,000. Finally, International Assets Investment Management LLC boosted its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 2.1 %

NYSE:CARR opened at $76.71 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company’s fifty day moving average price is $77.11 and its 200-day moving average price is $69.03. Carrier Global Co. has a 1-year low of $50.31 and a 1-year high of $83.32. The firm has a market capitalization of $68.83 billion, a P/E ratio of 19.42, a PEG ratio of 2.60 and a beta of 1.34.

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

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada cut their price objective 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. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

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.