Banco Santander S.A. Invests $216,000 in Carrier Global Co. (NYSE:CARR)

Banco Santander S.A. acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,679 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. PineStone Asset Management Inc. raised its holdings in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $58,415,000. Mizuho Securities USA LLC raised its stake in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares during the last quarter. Finally, Swedbank AB bought a new position in Carrier Global during the first quarter worth $24,600,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Stephens lowered their price objective on 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, Royal Bank of Canada reduced their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Shares of CARR stock opened at $77.00 on Friday. The business’s 50-day moving average price is $77.88 and its 200-day moving average price is $70.28. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. 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 firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.73 and a beta of 1.34.

Carrier Global Announces Dividend

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

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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.