Carrier Global Co. (NYSE:CARR) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in Carrier Global Co. (NYSE:CARR - Free Report) by 116.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,906 shares of the company's stock after acquiring an additional 25,822 shares during the quarter. Quantinno Capital Management LP's holdings in Carrier Global were worth $3,856,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CARR. FSA Wealth Management LLC purchased a new stake in Carrier Global during the 3rd quarter worth $28,000. McClarren Financial Advisors Inc. increased its position 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 acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the third quarter worth about $37,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR traded down $0.47 during trading hours on Monday, hitting $73.20. The company's stock had a trading volume of 3,721,737 shares, compared to its average volume of 4,201,150. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm has a market capitalization of $65.68 billion, a PE ratio of 18.51, a PEG ratio of 2.73 and a beta of 1.33. The company has a 50-day simple moving average of $77.22 and a 200 day simple moving average of $71.08. 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 program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is currently 19.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CARR. Robert W. Baird cut their target price 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. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price target on the stock. Barclays raised their price objective on shares of Carrier Global from $89.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.54.

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.