Davis R M Inc. Takes $205,000 Position in Carrier Global Co. (NYSE:CARR)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth $25,000. McClarren Financial Advisors Inc. increased its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global in the 3rd quarter worth about $37,000. Meeder Asset Management Inc. boosted its holdings 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 purchasing an additional 405 shares during the period. Finally, Country Trust Bank acquired a new position in shares of Carrier Global during the 3rd quarter worth approximately $40,000. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CARR. Robert W. Baird cut their price target 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. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company dropped their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Northcoast Research started coverage on shares of Carrier Global in a research note on Friday. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $78.86 on Tuesday. The company’s 50 day moving average price is $77.92 and its two-hundred day moving average price is $70.41. The firm has a market capitalization of $70.76 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.77 and a beta of 1.34. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Dividend Announcement

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

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

Carrier Global 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.