Carrier Global Co. (NYSE:CARR) Shares Sold by M. Kraus & Co

M. Kraus & Co cut its position in shares of Carrier Global Co. (NYSE:CARR) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,204 shares of the company’s stock after selling 1,733 shares during the period. Carrier Global accounts for 3.0% of M. Kraus & Co’s portfolio, making the stock its 10th largest holding. M. Kraus & Co’s holdings in Carrier Global were worth $10,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC lifted its stake in shares of Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after buying an additional 289,439 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after buying an additional 269,538 shares during the period. FMR LLC grew its stake in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after acquiring an additional 110,988 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CARR has been the topic of several research reports. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Citigroup dropped their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday. 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 note on Friday, October 18th. Finally, Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Carrier Global Stock Performance

NYSE:CARR opened at $68.36 on Wednesday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. 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’s 50-day simple moving average is $72.34 and its 200 day simple moving average is $72.17. The firm has a market capitalization of $61.33 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. Carrier Global’s payout ratio is 22.78%.

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

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.