Carrier Global Co. (NYSE:CARR) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its position in Carrier Global Co. (NYSE:CARR - Free Report) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,925 shares of the company's stock after selling 7,818 shares during the quarter. Tidal Investments LLC's holdings in Carrier Global were worth $4,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the third quarter worth about $28,000. McClarren Financial Advisors Inc. boosted its holdings in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global in the 3rd quarter valued at about $37,000. Meeder Asset Management Inc. raised its position in shares of Carrier Global by 675.0% during 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 in the last quarter. Finally, Country Trust Bank acquired a new position in Carrier Global during the third quarter worth approximately $40,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.7 %

Shares of NYSE CARR traded down $0.53 during mid-day trading on Friday, reaching $73.01. The company had a trading volume of 2,927,651 shares, compared to its average volume of 4,192,215. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The business's 50-day moving average is $76.52 and its 200-day moving average is $71.32. The stock has a market cap of $65.51 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.23%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is currently 22.78%.

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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. 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. Robert W. Baird lowered their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Wolfe Research raised Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. 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 objective for the company. Finally, Wells Fargo & Company decreased their target price on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.50.

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.