Charles Schwab Investment Management Inc. Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

Charles Schwab Investment Management Inc. boosted its holdings in Carrier Global Co. (NYSE:CARR) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,744,407 shares of the company’s stock after purchasing an additional 49,196 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Carrier Global were worth $381,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC boosted its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Essex Savings Bank boosted its position in Carrier Global by 2.2% during the 3rd 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. Boston Financial Mangement LLC increased its holdings in Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares in the last quarter. Sittner & Nelson LLC increased its holdings in Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares in the last quarter. Finally, Marathon Capital Management raised its position in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after purchasing an additional 156 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent research reports. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday. They set a “neutral” rating on the stock. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Finally, Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

CARR stock opened at $77.00 on Friday. The stock has a market capitalization of $69.09 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.67 and a beta of 1.34. The stock’s fifty day moving average is $77.88 and its two-hundred day moving average is $70.23. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s payout ratio is 19.24%.

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.