Y Intercept Hong Kong Ltd Acquires 59,851 Shares of Carrier Global Co. (NYSE:CARR)

Y Intercept Hong Kong Ltd boosted its position in Carrier Global Co. (NYSE:CARR - Free Report) by 91.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,251 shares of the company's stock after purchasing an additional 59,851 shares during the period. Carrier Global makes up about 0.6% of Y Intercept Hong Kong Ltd's portfolio, making the stock its 11th largest holding. Y Intercept Hong Kong Ltd's holdings in Carrier Global were worth $10,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter valued at $28,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the second quarter valued at $32,000. Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global in the second quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price for the company. Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Finally, Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.54.

Carrier Global Stock Performance

CARR stock traded down $0.48 during mid-day trading on Monday, reaching $73.19. 3,768,679 shares of the stock traded hands, compared to its average volume of 4,201,348. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The business has a 50-day moving average of $77.22 and a two-hundred day moving average of $71.08. The firm has a market capitalization of $65.67 billion, a PE ratio of 18.51, a P/E/G ratio of 2.73 and a beta of 1.33.

Carrier Global announced that its Board of Directors has approved a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.23%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global's dividend payout ratio is 19.24%.

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.