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

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

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Stiles Financial Services Inc acquired a new stake in Carrier Global during the third quarter worth about $209,000. AIA Group Ltd raised its stake in shares of Carrier Global by 9.6% in the third quarter. AIA Group Ltd now owns 170,253 shares of the company’s stock valued at $13,704,000 after acquiring an additional 14,959 shares during the last quarter. Sittner & Nelson LLC raised its stake in shares of Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares during the last quarter. Hara Capital LLC bought a new position in shares of Carrier Global in the third quarter valued at approximately $108,000. Finally, Montecito Bank & Trust raised its position in Carrier Global by 4.9% in the 3rd quarter. Montecito Bank & Trust now owns 8,034 shares of the company’s stock worth $647,000 after purchasing an additional 372 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CARR shares. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada cut their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Morgan Stanley began coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $76.31 on Friday. The firm has a market cap of $68.47 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.60 and a beta of 1.34. The firm’s fifty day moving average is $77.03 and its 200-day moving average is $68.99. 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 $50.31 and a 52 week high of $83.32.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.00%. Carrier Global’s payout ratio is 19.24%.

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

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.