Brooklyn Investment Group Makes New $250,000 Investment in Carrier Global Co. (NYSE:CARR)

Brooklyn Investment Group acquired a new stake in Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,106 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Olistico Wealth LLC bought a new stake in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. boosted 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 valued at $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in Carrier Global during the second quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the 2nd quarter worth $35,000. Finally, McClarren Financial Advisors Inc. raised 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 acquiring an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR stock opened at $76.91 on Wednesday. The company has a market capitalization of $69.01 billion, a P/E ratio of 19.47, a PEG ratio of 2.77 and a beta of 1.34. The company has a fifty day moving average price of $77.90 and a 200-day moving average price of $70.49. 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 52-week low of $51.20 and a 52-week high of $83.32.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CARR. Wells Fargo & Company reduced their target price 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. Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Barclays lowered their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus price target 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.