Carrier Global Co. (NYSE:CARR) Stock Holdings Lifted by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,988 shares of the company’s stock after acquiring an additional 35,550 shares during the quarter. Toronto Dominion Bank’s holdings in Carrier Global were worth $23,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CARR. ORG Partners LLC raised its position in Carrier Global by 417.3% during the second quarter. ORG Partners LLC now owns 776 shares of the company’s stock valued at $48,000 after buying an additional 626 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Carrier Global by 22.3% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,019 shares of the company’s stock worth $490,000 after purchasing an additional 1,282 shares during the period. Blue Trust Inc. grew its position in Carrier Global by 100.9% during the second quarter. Blue Trust Inc. now owns 2,453 shares of the company’s stock valued at $143,000 after purchasing an additional 1,232 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in Carrier Global in the 2nd quarter valued at approximately $7,720,000. Finally, World Equity Group Inc. lifted its position in Carrier Global by 10.7% in the 2nd quarter. World Equity Group Inc. now owns 5,171 shares of the company’s stock worth $326,000 after buying an additional 501 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group began coverage on Carrier Global in a report on Thursday. They issued a “buy” rating and a $96.00 price objective on the stock. Barclays increased their price target on shares of Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.50.

Carrier Global Trading Down 0.2 %

Shares of CARR opened at $73.55 on Friday. The stock’s 50-day moving average price is $76.67 and its 200 day moving average price is $71.23. 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 firm has a market capitalization of $65.99 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board 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.