Quest Partners LLC Takes $373,000 Position in Carrier Global Co. (NYSE:CARR)

Quest Partners LLC purchased a new position in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,636 shares of the company’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PineStone Asset Management Inc. grew its stake in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Victory Capital Management Inc. grew its position in Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Carrier Global by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock valued at $271,202,000 after purchasing an additional 147,835 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Carrier Global by 0.8% in the third quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Carrier Global by 0.4% in the third quarter. Swiss National Bank now owns 2,406,985 shares of the company’s stock worth $193,738,000 after buying an additional 8,500 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CARR. Stephens decreased their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Oppenheimer lifted 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. Barclays lowered 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. Finally, Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Eight equities research 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 company. 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 Trading Up 1.3 %

Shares of Carrier Global stock opened at $77.00 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $69.09 billion, a PE ratio of 19.49, a P/E/G ratio of 2.73 and a beta of 1.34. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The company’s fifty day simple moving average is $77.88 and its 200-day simple moving average is $70.32.

Carrier Global Announces Dividend

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

Carrier Global declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.