UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 110,988 Shares of Carrier Global Co. (NYSE:CARR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 5,993,169 shares of the company’s stock after purchasing an additional 110,988 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Carrier Global were worth $482,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global during the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. lifted its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $76.90 on Friday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year 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 company has a market cap of $69.00 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34. The company’s fifty day moving average price is $77.80 and its two-hundred day moving average price is $70.58.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced 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 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%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CARR. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Eight 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

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.