Carrier Global Co. (NYSE:CARR) Shares Acquired by Covestor Ltd

Covestor Ltd boosted its position in Carrier Global Co. (NYSE:CARR) by 62.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,851 shares of the company’s stock after purchasing an additional 1,478 shares during the period. Covestor Ltd’s holdings in Carrier Global were worth $311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the second quarter valued at $25,000. Meeder Asset Management Inc. grew its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global during the second quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays reduced their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Up 2.1 %

Shares of CARR opened at $76.68 on Friday. The firm has a market cap of $68.80 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. 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’s fifty day moving average is $77.19 and its two-hundred day moving average is $69.29. Carrier Global Co. has a fifty-two week low of $50.31 and a fifty-two week high of $83.32.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase 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 Company 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.