Verition Fund Management LLC Acquires 153,741 Shares of Carrier Global Co. (NYSE:CARR)

Verition Fund Management LLC grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 123.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 278,569 shares of the company’s stock after buying an additional 153,741 shares during the period. Verition Fund Management LLC’s holdings in Carrier Global were worth $22,422,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in Carrier Global in the second quarter worth approximately $25,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global in the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global in the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $76.90 on Friday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year 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. The business has a 50 day moving average of $77.80 and a 200 day moving average of $70.58. The company has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.85 and a beta of 1.34.

Carrier Global Announces Dividend

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

Carrier Global announced that its Board of Directors has authorized a share 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 repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CARR shares. Barclays cut their target price 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. Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Eight research 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 company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.31.

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.