Merit Financial Group LLC Has $2.86 Million Stake in Carrier Global Co. (NYSE:CARR)

Merit Financial Group LLC boosted its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,867 shares of the company's stock after buying an additional 4,656 shares during the quarter. Merit Financial Group LLC's holdings in Carrier Global were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CARR. FMR LLC lifted its stake in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Carrier Global during the third quarter worth about $130,479,000. Point72 Asset Management L.P. acquired a new position in shares of Carrier Global during the 2nd quarter worth about $58,415,000. Mizuho Securities USA LLC increased its stake in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock valued at $79,484,000 after acquiring an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock valued at $730,250,000 after purchasing an additional 897,061 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR stock remained flat at $69.74 during midday trading on Monday. The company had a trading volume of 4,601,408 shares, compared to its average volume of 4,039,499. The firm has a 50 day moving average of $71.96 and a two-hundred day moving average of $72.31. 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 twelve month low of $53.13 and a twelve month high of $83.32. The company has a market cap of $62.57 billion, a PE ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is currently 22.78%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Bank of America raised their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price for the company. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average price target of $83.93.

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.