Harbour Investments Inc. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Harbour Investments Inc. boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,042 shares of the company’s stock after purchasing an additional 553 shares during the period. Harbour Investments Inc.’s holdings in Carrier Global were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares in the last quarter. Capital International Investors lifted 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 purchasing an additional 3,763,666 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of 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 buying an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after buying an additional 72,633 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $74.53 on Friday. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. The firm has a 50 day moving average of $77.63 and a 200 day moving average of $69.69. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

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

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Stephens reduced their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Robert W. Baird lowered 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. 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.com, the stock presently has an average rating of “Moderate Buy” and an average 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.