Canoe Financial LP Has $13.52 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Canoe Financial LP lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 198,103 shares of the company’s stock after selling 3,247 shares during the period. Canoe Financial LP’s holdings in Carrier Global were worth $13,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Carrier Global by 57.7% in the second quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock worth $5,946,000 after acquiring an additional 34,487 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Carrier Global by 8.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 89,024 shares of the company’s stock worth $5,618,000 after buying an additional 7,015 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Carrier Global by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 153,893 shares of the company’s stock valued at $9,708,000 after acquiring an additional 4,135 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Carrier Global by 27.9% in the 2nd quarter. XTX Topco Ltd now owns 21,754 shares of the company’s stock valued at $1,372,000 after acquiring an additional 4,747 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Carrier Global by 10.4% during the 2nd quarter. Brighton Jones LLC now owns 5,790 shares of the company’s stock valued at $365,000 after acquiring an additional 544 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $69.74 on Friday. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The firm has a 50 day moving average of $72.10 and a 200-day moving average of $72.13. 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 declared that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase 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 shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Upgrades and Downgrades

Several research firms have commented on CARR. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America raised their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Robert W. Baird reduced their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

About Carrier Global

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.