Prospector Partners LLC Purchases 950 Shares of Carrier Global Co. (NYSE:CARR)

Prospector Partners LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,795 shares of the company’s stock after purchasing an additional 950 shares during the quarter. Carrier Global comprises 2.3% of Prospector Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Prospector Partners LLC’s holdings in Carrier Global were worth $22,118,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth about $25,000. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new position in shares of Carrier Global during the third quarter valued at approximately $37,000. Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% during the second 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 last quarter. Finally, Country Trust Bank bought a new stake in shares of Carrier Global in the 3rd quarter worth approximately $40,000. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CARR shares. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company lowered their price target on 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. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Up 2.4 %

Shares of NYSE:CARR opened at $78.86 on Tuesday. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG 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. The stock’s 50-day simple moving average is $77.92 and its two-hundred day simple moving average is $70.41.

Carrier Global Announces Dividend

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

Carrier Global declared that its board has authorized a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs 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.