Carrier Global Co. (NYSE:CARR) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its position in Carrier Global Co. (NYSE:CARR - Free Report) by 50.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,014 shares of the company's stock after purchasing an additional 9,000 shares during the period. Investment Management Corp of Ontario's holdings in Carrier Global were worth $2,174,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the third quarter valued at $28,000. Meeder Asset Management Inc. raised its position 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 during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $32,000. Hantz Financial Services Inc. acquired a new stake in Carrier Global during the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its stake in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after acquiring an additional 310 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

NYSE:CARR traded down $1.39 during trading hours on Thursday, reaching $73.99. 3,246,163 shares of the stock were exchanged, compared to its average volume of 4,204,355. The stock has a market capitalization of $66.39 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.80 and a beta of 1.33. The firm has a 50 day simple moving average of $77.35 and a 200-day simple moving average of $70.95. 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 Co. has a 52 week low of $52.54 and a 52 week high of $83.32.

Carrier Global declared that its board has initiated a share 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 repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global's dividend payout ratio is presently 19.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a "neutral" rating on the stock. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target for the company. Finally, Royal Bank of Canada cut their price objective on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.54.

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.