Quantum Private Wealth LLC Buys 702 Shares of Carrier Global Co. (NYSE:CARR)

Quantum Private Wealth LLC increased its position in Carrier Global Co. (NYSE:CARR) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,019 shares of the company’s stock after acquiring an additional 702 shares during the quarter. Quantum Private Wealth LLC’s holdings in Carrier Global were worth $1,853,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC purchased a new position in Carrier Global in the first quarter valued at about $235,000. Larson Financial Group LLC increased its position in shares of Carrier Global by 38.9% during the first quarter. Larson Financial Group LLC now owns 718 shares of the company’s stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Carrier Global by 10.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,694 shares of the company’s stock valued at $157,000 after buying an additional 244 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Carrier Global by 3.5% during the 1st quarter. Empirical Finance LLC now owns 30,195 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,009 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Carrier Global by 31.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 33,125 shares of the company’s stock worth $1,926,000 after purchasing an additional 7,873 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $76.31 on Friday. 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 Co. has a 1 year low of $50.31 and a 1 year high of $83.32. The business has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $68.99. The firm has a market cap of $68.47 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 2.60 and a beta of 1.34.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued 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 dividend yield of 1.00%. Carrier Global’s dividend payout ratio is 19.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CARR shares. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada decreased their price target 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. Finally, Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

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.