Jacobs Levy Equity Management Inc. acquired a new stake in Carrier Global Co. (NYSE:CARR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 43,442 shares of the company's stock, valued at approximately $3,497,000.
A number of other institutional investors also recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $28,000. 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 valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global in the 2nd quarter worth $35,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after purchasing an additional 310 shares during the period. 91.00% of the stock is owned by institutional investors.
Analyst Ratings Changes
CARR has been the topic of several analyst reports. UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price for the company. Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.54.
View Our Latest Stock Report on Carrier Global
Carrier Global Stock Down 0.4 %
NYSE CARR traded down $0.32 during trading on Friday, hitting $73.67. The stock had a trading volume of 3,926,809 shares, compared to its average volume of 4,535,060. Carrier Global Co. has a 12 month low of $52.54 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company's 50-day moving average price is $77.35 and its two-hundred day moving average price is $70.95. The company has a market capitalization of $66.10 billion, a PE ratio of 18.64, a P/E/G ratio of 2.79 and a beta of 1.33.
Carrier Global Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is currently 19.24%.
Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.
About Carrier Global
(
Free Report)
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.
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