Nordea Investment Management AB Purchases 6,365 Shares of Carrier Global Co. (NYSE:CARR)

Nordea Investment Management AB increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 10.3% during the fourth quarter, Holdings Channel reports. The fund owned 67,949 shares of the company’s stock after purchasing an additional 6,365 shares during the period. Nordea Investment Management AB’s holdings in Carrier Global were worth $4,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Carrier Global by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 14,820 shares of the company’s stock worth $1,012,000 after acquiring an additional 364 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Carrier Global by 141.5% in the fourth quarter. Versant Capital Management Inc now owns 1,181 shares of the company’s stock valued at $81,000 after purchasing an additional 692 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares in the last quarter. SMART Wealth LLC bought a new position in Carrier Global in the 3rd quarter valued at $218,000. Finally, Garden State Investment Advisory Services LLC increased its stake in shares of Carrier Global by 2.8% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company’s stock valued at $480,000 after buying an additional 161 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research reports. Robert W. Baird cut their price target 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. Stephens reduced their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. 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 report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.21.

Carrier Global Stock Performance

CARR opened at $66.56 on Friday. The company has a market capitalization of $59.72 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 2.73 and a beta of 1.36. The business’s 50-day moving average price is $72.55 and its two-hundred day moving average price is $71.98. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.35%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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

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.