Davis R M Inc. Takes Position in Carrier Global Co. (NYSE:CARR)

Davis R M Inc. purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,542 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its position in Carrier Global by 675.0% in the 2nd 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 last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. bought a new stake in shares of Carrier Global during the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CARR shares. Barclays reduced their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Royal Bank of Canada dropped their price objective 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. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Trading Up 2.4 %

NYSE CARR opened at $78.86 on Tuesday. The company has a market cap of $70.76 billion, a PE ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The stock has a 50 day moving average of $77.92 and a 200-day moving average of $70.41. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.