Wahed Invest LLC Purchases Shares of 20,374 Carrier Global Co. (NYSE:CARR)

Wahed Invest LLC purchased a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,374 shares of the company's stock, valued at approximately $1,640,000.

Several other large investors have also made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth approximately $28,000. Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 675.0% in 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 position in Carrier Global during the second quarter worth $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global during the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. boosted its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the period. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CARR shares. Bank of America boosted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target on the stock. Mizuho raised their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price objective on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Finally, Stephens cut their target price on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $82.54.

Carrier Global Price Performance

Shares of CARR stock traded down $0.32 during trading hours on Friday, reaching $73.67. 3,841,693 shares of the company were exchanged, compared to its average volume of 4,202,821. The company has a market cap of $66.10 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.80 and a beta of 1.33. 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 stock's fifty day moving average is $77.35 and its two-hundred day moving average is $70.95. Carrier Global Co. has a fifty-two week low of $52.54 and a fifty-two week high of $83.32.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

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

Carrier Global 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.