Daiwa Securities Group Inc. raised its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,440 shares of the company's stock after purchasing an additional 11,032 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Carrier Global were worth $8,084,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth $25,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the second quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after buying an additional 310 shares in the last quarter. 91.00% of the stock is owned by institutional investors.
Carrier Global Price Performance
Shares of CARR traded down $1.96 on Tuesday, hitting $76.91. The company's stock had a trading volume of 5,718,705 shares, compared to its average volume of 4,232,149. The company has a market capitalization of $69.01 billion, a PE ratio of 19.48, a PEG ratio of 2.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The company has a 50 day moving average price of $77.92 and a 200 day moving average price of $70.41.
Carrier Global declared that its board has initiated a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Carrier Global Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global's payout ratio is currently 19.24%.
Wall Street Analyst Weigh In
CARR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target on the stock. Northcoast Research started coverage on Carrier Global in a research report on Friday. They set a "neutral" rating for the company. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. 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. Finally, Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $82.31.
Get Our Latest Report on CARR
Carrier Global Profile
(
Free Report)
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.
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