Versant Capital Management Inc Increases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Versant Capital Management Inc raised its position in Carrier Global Co. (NYSE:CARR) by 141.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,181 shares of the company’s stock after acquiring an additional 692 shares during the quarter. Versant Capital Management Inc’s holdings in Carrier Global were worth $81,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. FMR LLC grew its holdings in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Carrier Global in the 3rd quarter valued at about $130,479,000. Point72 Asset Management L.P. purchased a new position in Carrier Global in the 2nd quarter valued at about $58,415,000. Mizuho Securities USA LLC increased its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CARR. Royal Bank of Canada lowered their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $83.43.

Carrier Global Stock Up 1.4 %

NYSE:CARR opened at $69.26 on Friday. The firm has a market capitalization of $62.14 billion, a PE ratio of 17.53, 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 $73.14 and a 200-day moving average of $71.91.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. 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 yield of 1.30%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

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 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.