KBC Group NV Has $14.07 Million Holdings in Carrier Global Co. (NYSE:CARR)

KBC Group NV lifted its stake in Carrier Global Co. (NYSE:CARR) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,813 shares of the company’s stock after acquiring an additional 2,360 shares during the period. KBC Group NV’s holdings in Carrier Global were worth $14,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Huntington National Bank increased its stake in Carrier Global by 2.8% during the third quarter. Huntington National Bank now owns 55,783 shares of the company’s stock valued at $4,490,000 after acquiring an additional 1,494 shares during the period. Main Street Financial Solutions LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $251,000. Kovack Advisors Inc. bought a new stake in shares of Carrier Global during the third quarter valued at approximately $230,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Carrier Global in the third quarter valued at $200,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Carrier Global by 25.5% in the third quarter. Oppenheimer & Co. Inc. now owns 65,810 shares of the company’s stock valued at $5,297,000 after purchasing an additional 13,354 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $74.53 on Friday. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The stock has a market capitalization of $66.87 billion, a PE ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock’s fifty day moving average is $77.63 and its 200-day moving average is $69.69.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is presently 19.24%.

Carrier Global announced that its board has approved a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on CARR. Barclays lowered their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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 research note on Friday, October 25th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global 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.