B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Carrier Global Co. (NYSE:CARR)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Carrier Global Co. (NYSE:CARR - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,822 shares of the company's stock, valued at approximately $2,642,000.

A number of other hedge funds also recently added to or reduced their stakes in CARR. Frank Rimerman Advisors LLC raised its stake in shares of Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company's stock valued at $864,000 after acquiring an additional 13,677 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Carrier Global in the 1st quarter valued at about $2,019,000. Kintegral Advisory LLC grew its position in shares of Carrier Global by 44.2% during the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company's stock worth $1,797,000 after buying an additional 8,705 shares in the last quarter. Foster Victor Wealth Advisors LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $7,720,000. Finally, Vista Investment Partners LLC acquired a new stake in Carrier Global in the second quarter valued at approximately $744,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

CARR stock traded up $0.99 on Friday, hitting $77.00. The company's stock had a trading volume of 4,465,562 shares, compared to its average volume of 4,212,257. Carrier Global Co. has a 1 year low of $51.20 and a 1 year 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 market cap of $69.09 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34. The firm has a 50 day moving average of $77.88 and a two-hundred day moving average of $70.23.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently disclosed 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. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global's dividend payout ratio is presently 19.24%.

Analysts Set New Price Targets

Several research analysts have commented on CARR shares. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price target for the company. Barclays dropped their target price on Carrier Global from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.31.

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.