Ingalls & Snyder LLC Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Ingalls & Snyder LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,315 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Ingalls & Snyder LLC’s holdings in Carrier Global were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. FMR LLC boosted its holdings in shares of 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 acquiring an additional 2,320,909 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Carrier Global in the second quarter valued at about $58,415,000. Mizuho Securities USA LLC raised its holdings in Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares during the period. Finally, International Assets Investment Management LLC boosted its position 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 purchasing an additional 897,061 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Robert W. Baird cut their target price 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. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight equities research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Down 0.9 %

Shares of NYSE CARR opened at $75.58 on Wednesday. The firm has a market cap of $67.81 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 1 year low of $52.28 and a 1 year high of $83.32. The firm’s 50 day moving average price is $77.56 and its 200 day moving average price is $70.90.

Carrier Global Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are 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.