Swiss National Bank Acquires 8,500 Shares of Carrier Global Co. (NYSE:CARR)

Swiss National Bank lifted its holdings in Carrier Global Co. (NYSE:CARR) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,406,985 shares of the company’s stock after purchasing an additional 8,500 shares during the quarter. Swiss National Bank’s holdings in Carrier Global were worth $193,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors boosted its stake in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted its position in Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Carrier Global by 1.7% during the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during the period. Dimensional Fund Advisors LP increased its position in Carrier Global by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after buying an additional 147,835 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Carrier Global by 0.8% in the third quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $74.53 on Monday. 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 has a market cap of $66.87 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The stock’s 50 day simple moving average is $77.73 and its two-hundred day simple moving average is $69.89.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARR. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.