Weiss Asset Management LP Takes Position in Carrier Global Co. (NYSE:CARR)

Weiss Asset Management LP purchased a new stake in Carrier Global Co. (NYSE:CARR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,984 shares of the company's stock, valued at approximately $1,528,000.

Several other institutional investors have also recently bought and sold shares of CARR. Temasek Holdings Private Ltd bought a new stake in shares of Carrier Global during the third quarter worth $3,269,000. State Street Corp increased its position in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company's stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. Stifel Financial Corp raised its holdings in Carrier Global by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 375,511 shares of the company's stock worth $30,225,000 after purchasing an additional 15,516 shares during the last quarter. Quantinno Capital Management LP lifted its position in Carrier Global by 116.9% during the 3rd quarter. Quantinno Capital Management LP now owns 47,906 shares of the company's stock valued at $3,856,000 after purchasing an additional 25,822 shares during the period. Finally, RBF Capital LLC bought a new position in shares of Carrier Global in the 3rd quarter valued at about $201,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARR. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average target price of $82.54.

Carrier Global Stock Down 0.4 %

CARR stock traded down $0.32 during mid-day trading on Friday, hitting $73.67. 3,926,809 shares of the company were exchanged, compared to its average volume of 4,535,060. 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 Co. has a 1-year low of $52.54 and a 1-year high of $83.32. The firm's 50 day simple moving average is $77.22 and its 200 day simple moving average is $71.04. The firm has a market cap of $66.10 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.79 and a beta of 1.33.

Carrier Global declared that its board has initiated a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This is a boost 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 payout ratio is currently 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.