Wolverine Asset Management LLC Invests $1.37 Million in Carrier Global Co. (NYSE:CARR)

Wolverine Asset Management LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,000 shares of the company's stock, valued at approximately $1,368,000.

A number of other large investors also recently made changes to their positions in the business. FSM Wealth Advisors LLC grew its stake in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock valued at $513,000 after purchasing an additional 136 shares in the last quarter. Essex Savings Bank increased its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after buying an additional 144 shares during the last quarter. Boston Financial Mangement LLC raised its position in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. Sittner & Nelson LLC lifted its stake in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company's stock valued at $257,000 after acquiring an additional 150 shares during the last quarter. Finally, Marathon Capital Management grew its position in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company's stock worth $247,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Carrier Global stock traded up $0.91 during mid-day trading on Wednesday, reaching $76.35. The company had a trading volume of 7,806,376 shares, compared to its average volume of 4,168,991. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $68.50 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.71 and a beta of 1.34. The company has a 50 day moving average of $77.36 and a 200-day moving average of $69.61. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.00%. Carrier Global's dividend payout ratio is 19.24%.

Carrier Global announced that its board has authorized a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CARR. Bank of America raised 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. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target for the company. Robert W. Baird cut their price objective 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. Finally, Barclays decreased their target price on Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.31.

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.