DRW Securities LLC Invests $748,000 in Carrier Global Co. (NYSE:CARR)

DRW Securities LLC purchased a new position in Carrier Global Co. (NYSE:CARR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,295 shares of the company's stock, valued at approximately $748,000.

Other hedge funds have also recently made changes to their positions in the company. PineStone Asset Management Inc. increased its holdings in Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Carrier Global in the 2nd quarter worth $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. International Assets Investment Management LLC lifted its position in Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock valued at $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Finally, Swedbank AB bought a new stake in Carrier Global during the first quarter valued at about $24,600,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CARR shares. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price target for the company. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday. They set a "neutral" rating on the stock. Royal Bank of Canada cut their price target 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. Finally, Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.31.

Carrier Global Stock Down 2.5 %

Shares of NYSE:CARR traded down $1.96 during trading on Tuesday, reaching $76.91. The stock had a trading volume of 5,718,705 shares, compared to its average volume of 4,232,149. 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 company has a market capitalization of $69.01 billion, a P/E ratio of 19.47, a PEG ratio of 2.77 and a beta of 1.34. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The firm's 50-day simple moving average is $77.90 and its 200 day simple moving average is $70.49.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. Carrier Global's payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.