9,295 Shares in Carrier Global Co. (NYSE:CARR) Acquired by DRW Securities LLC

DRW Securities LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,295 shares of the company’s stock, valued at approximately $748,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. PineStone Asset Management Inc. increased its position in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Carrier Global in the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC grew its position in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares in the last quarter. International Assets Investment Management LLC grew its position in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Carrier Global in the first quarter valued at approximately $24,600,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays reduced their price objective on 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, Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Price Performance

Shares of CARR opened at $78.86 on Tuesday. The firm has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.77 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 Co. has a one year low of $51.20 and a one year high of $83.32. The stock’s fifty day moving average is $77.92 and its 200-day moving average is $70.41.

Carrier Global Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is currently 19.24%.

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