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

Pacer Advisors Inc. grew its stake in Carrier Global Co. (NYSE:CARR) by 13.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,539 shares of the company’s stock after purchasing an additional 10,313 shares during the period. Pacer Advisors Inc.’s holdings in Carrier Global were worth $6,112,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. FSM Wealth Advisors LLC lifted its holdings in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. UMB Bank n.a. increased its stake in Carrier Global by 1.1% during the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after purchasing an additional 143 shares during the last quarter. Essex Savings Bank raised its holdings in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the period. Finally, Boston Financial Mangement LLC lifted its position in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Eight 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Trading Down 3.7 %

Carrier Global stock opened at $64.78 on Thursday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The stock has a market capitalization of $58.12 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The firm has a 50 day simple moving average of $71.14 and a 200-day simple moving average of $72.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.