KBC Group NV Has $11.81 Million Position in Carrier Global Co. (NYSE:CARR)

KBC Group NV lessened its holdings in shares of Carrier Global Co. (NYSE:CARRFree Report) by 1.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 173,077 shares of the company’s stock after selling 1,736 shares during the quarter. KBC Group NV’s holdings in Carrier Global were worth $11,814,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CARR. Union Bancaire Privee UBP SA bought a new position in shares of Carrier Global during the 4th quarter worth about $482,000. Blue Trust Inc. increased its stake in Carrier Global by 47.3% during the fourth quarter. Blue Trust Inc. now owns 8,774 shares of the company’s stock valued at $599,000 after acquiring an additional 2,816 shares during the period. Tennessee Valley Asset Management Partners raised its holdings in Carrier Global by 5.5% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,520 shares of the company’s stock valued at $309,000 after acquiring an additional 234 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Carrier Global by 3.6% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 205,646 shares of the company’s stock worth $14,038,000 after acquiring an additional 7,103 shares during the period. Finally, Blue Square Asset Management LLC grew its holdings in shares of Carrier Global by 3.1% during the 4th quarter. Blue Square Asset Management LLC now owns 33,585 shares of the company’s stock worth $2,293,000 after purchasing an additional 1,006 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 3.7 %

Shares of CARR opened at $64.78 on Thursday. The stock’s fifty day simple moving average is $71.14 and its 200-day simple moving average is $72.57. The firm 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. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm 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. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. Carrier Global’s payout ratio is currently 22.78%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CARR. JPMorgan Chase & Co. reduced their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Check Out Our Latest Analysis on CARR

Carrier Global Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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