BNP Paribas Increases Stake in Carrier Global Co. (NYSE:CARR)

BNP Paribas boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,275 shares of the company’s stock after purchasing an additional 2,174 shares during the quarter. BNP Paribas’ holdings in Carrier Global were worth $1,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. 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 valued at $1,148,360,000 after acquiring an additional 269,538 shares during the last quarter. FMR LLC boosted its holdings in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Carrier Global by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock worth $381,877,000 after purchasing an additional 49,196 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after purchasing an additional 72,633 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 0.1 %

CARR stock opened at $76.89 on Thursday. The firm has a fifty day moving average price of $77.87 and a 200 day moving average price of $70.54. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. 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 firm has a market cap of $68.99 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.34.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CARR. Wells Fargo & Company lowered their price objective 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 upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Mizuho increased 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. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Bank of America raised their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.