Northwest & Ethical Investments L.P. Has $28.68 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Northwest & Ethical Investments L.P. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,307 shares of the company’s stock after selling 48,651 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Carrier Global were worth $28,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its stake in Carrier Global by 3.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock worth $2,778,000 after purchasing an additional 1,761 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock worth $17,114,000 after acquiring an additional 65,796 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Carrier Global by 203.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock worth $2,232,000 after acquiring an additional 27,100 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Carrier Global by 25.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 11,216 shares of the company’s stock worth $652,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its position in Carrier Global by 2.6% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 26,472 shares of the company’s stock valued at $1,539,000 after buying an additional 665 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CARR shares. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Wells Fargo & Company dropped their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Finally, Barclays cut their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $0.04 during mid-day trading on Thursday, reaching $76.90. 4,565,638 shares of the company were exchanged, compared to its average volume of 4,233,600. The stock has a market capitalization of $69.00 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company’s 50-day simple moving average is $77.87 and its 200-day simple moving average is $70.54. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

Carrier Global Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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