Carrier Global Co. (NYSE:CARR) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Carrier Global Co. (NYSE:CARR) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 224,323 shares of the company’s stock after purchasing an additional 2,596 shares during the period. Franklin Resources Inc.’s holdings in Carrier Global were worth $18,545,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after buying an additional 289,439 shares in the last quarter. Fisher Asset Management LLC boosted its position in Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after buying an additional 269,538 shares during the last quarter. FMR LLC grew its stake in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Carrier Global by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after acquiring an additional 110,988 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.5 %

NYSE:CARR opened at $66.69 on Friday. The firm has a market capitalization of $59.84 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $75.55 and a 200-day moving average of $71.43.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.35%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company 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 target for the company. Stephens cut their price target 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. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Carrier Global Company 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.