Paloma Partners Management Co Has $1.72 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Paloma Partners Management Co trimmed its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 44.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,420 shares of the company's stock after selling 17,008 shares during the quarter. Paloma Partners Management Co's holdings in Carrier Global were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. PineStone Asset Management Inc. lifted its stake 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 worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. FMR LLC raised its holdings in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Carrier Global in the 2nd quarter worth about $58,415,000. Mizuho Securities USA LLC boosted its holdings in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock valued at $79,484,000 after buying an additional 922,892 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock valued at $730,250,000 after buying an additional 897,061 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.71 during mid-day trading on Tuesday, reaching $75.58. 2,789,250 shares of the company traded hands, compared to its average volume of 4,790,160. The firm has a market cap of $67.81 billion, a PE 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 current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a fifty-two week low of $52.28 and a fifty-two week high of $83.32. The stock has a fifty day simple moving average of $77.56 and a 200-day simple moving average of $70.90.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, October 25th. Carrier Global's dividend payout ratio is presently 19.24%.

Analysts Set New Price Targets

CARR has been the topic of a number of recent research reports. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. 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. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Mizuho raised 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. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.