Cinctive Capital Management LP Takes $1.68 Million Position in Carrier Global Co. (NYSE:CARR)

Cinctive Capital Management LP bought a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,870 shares of the company's stock, valued at approximately $1,680,000.

A number of other large investors have also recently made changes to their positions in the business. Concentric Capital Strategies LP boosted its stake in shares of Carrier Global by 6.0% in the third quarter. Concentric Capital Strategies LP now owns 61,834 shares of the company's stock valued at $4,977,000 after purchasing an additional 3,495 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Carrier Global by 1,111.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 67,588 shares of the company's stock valued at $5,440,000 after acquiring an additional 62,009 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $28,000. Cobblestone Capital Advisors LLC NY grew its position in shares of Carrier Global by 6.4% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 6,282 shares of the company's stock worth $506,000 after buying an additional 380 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Carrier Global by 123.2% in the third quarter. Verition Fund Management LLC now owns 278,569 shares of the company's stock worth $22,422,000 after purchasing an additional 153,741 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.21 during trading on Wednesday, hitting $75.37. 2,771,631 shares of the company were exchanged, compared to its average volume of 4,208,451. 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 52-week low of $52.44 and a 52-week high of $83.32. The company has a market cap of $67.62 billion, a PE ratio of 19.08, a P/E/G ratio of 2.82 and a beta of 1.33. The stock has a 50 day moving average of $77.47 and a 200 day moving average of $70.93.

Carrier Global announced that its board has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent research reports. Oppenheimer raised their price target on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. 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. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. Finally, Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They set a "neutral" rating for the company. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and a consensus target price of $82.31.

Carrier Global Company 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.