Oppenheimer & Co. Inc. Acquires 13,354 Shares of Carrier Global Co. (NYSE:CARR)

Oppenheimer & Co. Inc. lifted its position in Carrier Global Co. (NYSE:CARR - Free Report) by 25.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 65,810 shares of the company's stock after purchasing an additional 13,354 shares during the period. Oppenheimer & Co. Inc.'s holdings in Carrier Global were worth $5,297,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CARR. Sei Investments Co. lifted its position in Carrier Global by 0.6% during the 1st quarter. Sei Investments Co. now owns 238,181 shares of the company's stock valued at $13,846,000 after acquiring an additional 1,519 shares during the period. Entropy Technologies LP bought a new position in shares of Carrier Global during the 1st quarter valued at $583,000. Kingsview Wealth Management LLC boosted its position in Carrier Global by 8.0% in the first quarter. Kingsview Wealth Management LLC now owns 13,866 shares of the company's stock worth $806,000 after purchasing an additional 1,023 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Carrier Global by 20.4% in the first quarter. HBK Sorce Advisory LLC now owns 10,012 shares of the company's stock worth $582,000 after buying an additional 1,696 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Carrier Global by 36.1% in the first quarter. Blair William & Co. IL now owns 149,758 shares of the company's stock worth $8,705,000 after acquiring an additional 39,739 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CARR. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Stephens decreased their target price on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada cut their price target on Carrier Global from $91.00 to $87.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Barclays decreased their price objective on Carrier Global from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $82.31.

Carrier Global Trading Down 0.9 %

Carrier Global stock traded down $0.69 during trading hours on Friday, hitting $74.28. The company had a trading volume of 2,365,139 shares, compared to its average volume of 4,163,645. The firm has a market cap of $66.65 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.74 and a beta of 1.34. The company has a 50-day moving average price of $77.63 and a two-hundred day moving average price of $69.69. Carrier Global Co. has a 1 year low of $51.20 and a 1 year 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.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

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.