Polar Asset Management Partners Inc. Invests $2.20 Million in Carrier Global Co. (NYSE:CARR)

Polar Asset Management Partners Inc. purchased a new position in shares of Carrier Global Co. (NYSE:CARR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,300 shares of the company's stock, valued at approximately $2,197,000.

Several other hedge funds also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth $28,000. Meeder Asset Management Inc. lifted its position in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the second quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global in the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after purchasing an additional 310 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of research reports. Mizuho upped 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. Wells Fargo & Company decreased their price target on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Wolfe Research upgraded shares of Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Northcoast Research initiated coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.54.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.37 during mid-day trading on Friday, hitting $73.62. 3,926,751 shares of the stock traded hands, compared to its average volume of 4,203,181. Carrier Global Co. has a twelve month low of $52.54 and a twelve month high of $83.32. The firm has a 50 day simple moving average of $77.35 and a two-hundred day simple moving average of $70.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $66.05 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.80 and a beta of 1.33.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This is an increase from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.22%. Carrier Global's dividend payout ratio (DPR) is currently 19.24%.

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

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.