Carrier Global Co. (NYSE:CARR) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 124,110 shares of the company's stock after buying an additional 9,627 shares during the period. CIBC Asset Management Inc's holdings in Carrier Global were worth $9,990,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in Carrier Global in the second quarter valued at about $25,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after buying an additional 310 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after buying an additional 405 shares in the last quarter. Country Trust Bank acquired a new position in Carrier Global during the third quarter worth $40,000. Finally, EdgeRock Capital LLC purchased a new position in Carrier Global in the second quarter worth $32,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Wolfe Research raised Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Royal Bank of Canada reduced their price objective on Carrier Global from $91.00 to $87.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target for the company. Seven 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.31.

Carrier Global Trading Down 0.6 %

Shares of NYSE:CARR traded down $0.44 during midday trading on Friday, reaching $74.53. The company's stock had a trading volume of 4,600,509 shares, compared to its average volume of 4,494,057. The business has a 50 day moving average price of $77.73 and a 200 day moving average price of $69.83. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The firm has a market cap of $66.87 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has authorized a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global's dividend payout ratio is currently 19.24%.

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.