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

Mirae Asset Global Investments Co. Ltd. raised its position in Carrier Global Corporation (NYSE:CARR) by 27.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,818 shares of the company’s stock after buying an additional 28,470 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Carrier Global were worth $7,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after buying an additional 23,200 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Carrier Global by 5.3% during the second quarter. Truist Financial Corp now owns 128,005 shares of the company’s stock worth $9,369,000 after buying an additional 6,471 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Carrier Global by 40.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 56,149 shares of the company’s stock worth $4,110,000 after buying an additional 16,226 shares during the period. Finally, Pure Financial Advisors LLC grew its holdings in shares of Carrier Global by 13.1% during the second quarter. Pure Financial Advisors LLC now owns 4,669 shares of the company’s stock worth $342,000 after buying an additional 539 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.3%

Shares of CARR stock opened at $59.60 on Friday. The business’s fifty day moving average price is $54.57 and its 200 day moving average price is $59.80. The firm has a market capitalization of $50.20 billion, a PE ratio of 13.33, a P/E/G ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09.

Carrier Global declared that its Board of Directors has authorized a stock repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on CARR shares. Wolfe Research reduced their price objective on Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Morgan Stanley set a $55.00 target price on Carrier Global in a report on Thursday, January 8th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Robert W. Baird lowered their price objective on shares of Carrier Global from $72.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Finally, Mizuho dropped their price objective on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

About Carrier Global

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.