Carrier Global Co. (NYSE:CARR) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,539 shares of the company’s stock after acquiring an additional 10,313 shares during the quarter. Pacer Advisors Inc.’s holdings in Carrier Global were worth $6,112,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in Carrier Global in the 4th quarter valued at approximately $482,000. Blue Trust Inc. lifted its holdings in shares of Carrier Global by 47.3% in the 4th quarter. Blue Trust Inc. now owns 8,774 shares of the company’s stock valued at $599,000 after buying an additional 2,816 shares during the period. Tennessee Valley Asset Management Partners boosted its stake in shares of Carrier Global by 5.5% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,520 shares of the company’s stock valued at $309,000 after buying an additional 234 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Carrier Global by 3.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 205,646 shares of the company’s stock worth $14,038,000 after acquiring an additional 7,103 shares during the period. Finally, Blue Square Asset Management LLC raised its position in Carrier Global by 3.1% in the fourth quarter. Blue Square Asset Management LLC now owns 33,585 shares of the company’s stock worth $2,293,000 after acquiring an additional 1,006 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CARR. JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. 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. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Trading Down 3.7 %

Shares of CARR opened at $64.78 on Thursday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The firm has a market capitalization of $58.12 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $71.14 and its 200 day simple moving average is $72.57.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. 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 1.39%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is currently 22.78%.

Carrier Global declared that its board has approved a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.