Kovitz Investment Group Partners LLC Acquires 18,474 Shares of Carrier Global Co. (NYSE:CARR)

Kovitz Investment Group Partners LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 103.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,247 shares of the company's stock after purchasing an additional 18,474 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Carrier Global were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC grew its stake in shares of Carrier Global by 5.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,097 shares of the company's stock valued at $826,000 after purchasing an additional 650 shares during the period. Cooper Financial Group bought a new position in shares of Carrier Global during the second quarter valued at $204,000. Diversified Trust Co boosted its stake in shares of Carrier Global by 29.1% in the 2nd quarter. Diversified Trust Co now owns 13,906 shares of the company's stock valued at $877,000 after purchasing an additional 3,137 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Carrier Global by 417.3% in the 2nd quarter. ORG Partners LLC now owns 776 shares of the company's stock worth $48,000 after purchasing an additional 626 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth about $51,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target on the stock. Wells Fargo & Company cut their price target on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Finally, Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Eight equities research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.54.

Carrier Global Stock Down 0.5 %

Shares of NYSE:CARR traded down $0.37 during trading on Tuesday, hitting $72.83. 4,644,338 shares of the company's stock traded hands, compared to its average volume of 4,203,210. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $77.07 and a 200-day moving average price of $71.14. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a market cap of $65.35 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33.

Carrier Global declared that its board has initiated a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is 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.