Swedbank AB Lowers Stake in Carrier Global Co. (NYSE:CARR)

Swedbank AB decreased its holdings in Carrier Global Co. (NYSE:CARR) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 409,098 shares of the company’s stock after selling 800 shares during the quarter. Swedbank AB’s holdings in Carrier Global were worth $32,928,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global during the second quarter valued at approximately $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global in the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR opened at $78.86 on Tuesday. The stock has a fifty day simple moving average of $77.92 and a 200-day simple moving average of $70.41. 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 has a market cap of $70.76 billion, a PE ratio of 19.96, a P/E/G ratio of 2.77 and a beta of 1.34. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

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

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Finally, Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target 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.