Pacer Advisors Inc. Acquires 7,265 Shares of Carrier Global Co. (NYSE:CARR)

Pacer Advisors Inc. raised its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,226 shares of the company's stock after purchasing an additional 7,265 shares during the quarter. Pacer Advisors Inc.'s holdings in Carrier Global were worth $6,377,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in Carrier Global during the 2nd quarter valued at $25,000. McClarren Financial Advisors Inc. grew its position in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in shares of Carrier Global in the third quarter valued at about $37,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in shares of Carrier Global during the third quarter worth $40,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of CARR traded up $1.87 during midday trading on Monday, reaching $78.87. The stock had a trading volume of 6,942,650 shares, compared to its average volume of 4,210,803. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The company has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. The company's 50-day moving average is $77.88 and its 200 day moving average is $70.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. Carrier Global's dividend payout ratio is 19.24%.

Analyst Upgrades and Downgrades

CARR has been the topic of several research reports. Stephens cut their price objective on shares of 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. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday. They set a "neutral" rating on the stock. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Wolfe Research raised Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.31.

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.