Mill Creek Capital Advisors LLC Purchases New Position in Carrier Global Co. (NYSE:CARR)

Mill Creek Capital Advisors LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,590 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its position in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Victory Capital Management Inc. raised its position in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Carrier Global by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after acquiring an additional 147,835 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after purchasing an additional 20,500 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the topic of a number of research reports. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays decreased their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Seven research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Down 0.6 %

Shares of NYSE:CARR opened at $74.53 on Monday. 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 Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The company has a market cap of $66.87 billion, a P/E ratio of 18.87, a PEG ratio of 2.68 and a beta of 1.34. The stock’s fifty day moving average price is $77.73 and its 200-day moving average price is $69.89.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase 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 shares are undervalued.

Carrier Global 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.