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

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in Carrier Global in the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. increased its position 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 during the period. Meeder Asset Management Inc. raised its stake in 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. Country Trust Bank purchased a new position in shares of Carrier Global in the 3rd quarter valued at approximately $40,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $32,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.2 %

Shares of CARR stock opened at $75.40 on Wednesday. The business’s fifty day moving average is $77.26 and its 200-day moving average is $69.50. Carrier Global Co. has a 1 year low of $50.67 and a 1 year high of $83.32. The stock has a market cap of $67.65 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.75 and a beta of 1.34. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CARR shares. Barclays cut their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. 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. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.33.

About Carrier Global

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.