Carrier Global Co. (NYSE:CARR) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,453 shares of the company's stock after buying an additional 25,346 shares during the period. M&T Bank Corp's holdings in Carrier Global were worth $25,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock worth $513,000 after buying an additional 136 shares in the last quarter. Meridian Wealth Management LLC grew its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock worth $485,000 after acquiring an additional 137 shares in the last quarter. Essex Savings Bank increased its stake in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company's stock valued at $532,000 after acquiring an additional 144 shares during the last quarter. Boston Financial Mangement LLC raised its position in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock valued at $741,000 after purchasing an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC lifted its stake in Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company's stock worth $257,000 after purchasing an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 2.7 %

Shares of CARR traded up $1.80 during trading hours on Friday, reaching $68.49. 11,168,972 shares of the company traded hands, compared to its average volume of 4,275,770. The stock's fifty day moving average price is $75.29 and its 200 day moving average price is $71.54. 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 firm has a market cap of $61.45 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

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

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.31%. The ex-dividend date 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 presently 22.78%.

Analysts Set New Price Targets

CARR has been the topic of a number of research reports. Mizuho raised their price objective on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a "buy" rating and a $96.00 price target for the company. Finally, Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

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.