Carrier Global Corporation $CARR Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 131,818 shares of the company’s stock after buying an additional 28,470 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Carrier Global were worth $7,870,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Spirepoint Private Client LLC increased its stake in Carrier Global by 547.7% in the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after purchasing an additional 51,324 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of Carrier Global by 24.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after acquiring an additional 42,161 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at about $1,986,000. Triasima Portfolio Management inc. purchased a new position in shares of Carrier Global during the 2nd quarter worth about $1,421,000. Finally, Brookstone Capital Management boosted its position in shares of Carrier Global by 220.8% in the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after acquiring an additional 35,691 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 0.3%

Shares of Carrier Global stock opened at $59.60 on Friday. The company has a fifty day moving average price of $54.57 and a 200 day moving average price of $59.80. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The stock has a market cap of $50.20 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio is presently 21.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CARR. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Royal Bank Of Canada dropped their price objective on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Morgan Stanley set a $55.00 target price on Carrier Global in a research report on Thursday, January 8th. Wolfe Research lowered their price target on Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, Mizuho dropped their price target on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.