40,616 Shares in Carrier Global Co. (NYSE:CARR) Acquired by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 40,616 shares of the company’s stock, valued at approximately $3,269,000.

Several other large investors have also recently added to or reduced their stakes in CARR. CX Institutional increased its position in shares of Carrier Global by 49.9% in the 2nd quarter. CX Institutional now owns 12,567 shares of the company’s stock valued at $793,000 after purchasing an additional 4,185 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $442,000. OLD National Bancorp IN boosted its holdings in shares of Carrier Global by 15.2% in the 2nd quarter. OLD National Bancorp IN now owns 7,793 shares of the company’s stock valued at $492,000 after buying an additional 1,029 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Carrier Global by 6.0% in the 2nd quarter. QRG Capital Management Inc. now owns 61,760 shares of the company’s stock valued at $3,896,000 after buying an additional 3,469 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $92,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR opened at $73.99 on Friday. The company has a 50-day simple moving average of $77.35 and a 200-day simple moving average of $70.95. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $66.39 billion, a PE ratio of 18.73, a P/E/G ratio of 2.80 and a beta of 1.33. Carrier Global Co. has a 52-week low of $52.54 and a 52-week high of $83.32.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global declared that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on CARR shares. 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 report on Wednesday, October 2nd. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. 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 note on Friday, October 25th. UBS Group upgraded 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. Finally, Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.54.

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.