Ewa LLC Acquires 231 Shares of Carrier Global Co. (NYSE:CARR)

Ewa LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 7.1% in the third quarter, Holdings Channel reports. The firm owned 3,488 shares of the company’s stock after buying an additional 231 shares during the quarter. Ewa LLC’s holdings in Carrier Global were worth $261,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CARR. Nomura Asset Management Co. Ltd. boosted its holdings in Carrier Global by 7.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 238,988 shares of the company’s stock worth $19,236,000 after purchasing an additional 15,609 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Carrier Global by 91.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 125,251 shares of the company’s stock valued at $10,081,000 after buying an additional 59,851 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Carrier Global in the 3rd quarter worth $130,479,000. National Bank of Canada FI boosted its position in Carrier Global by 39.7% in the third quarter. National Bank of Canada FI now owns 545,866 shares of the company’s stock worth $43,884,000 after purchasing an additional 155,089 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in Carrier Global by 21.6% during the third quarter. iA Global Asset Management Inc. now owns 533,998 shares of the company’s stock valued at $42,981,000 after buying an additional 95,000 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Eight 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.54.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $73.67 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $66.10 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.79 and a beta of 1.33. The firm’s 50 day simple moving average is $77.22 and its 200-day simple moving average is $71.08. Carrier Global Co. has a one year low of $52.54 and a one year high of $83.32.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually 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 Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 19.24%.

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.