QRG Capital Management Inc. Has $5.42 Million Stake in Carrier Global Co. (NYSE:CARR)

QRG Capital Management Inc. grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,272 shares of the company’s stock after acquiring an additional 5,512 shares during the period. QRG Capital Management Inc.’s holdings in Carrier Global were worth $5,415,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC boosted its stake in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after acquiring an additional 13,677 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after buying an additional 130,192 shares during the period. Quadrature Capital Ltd bought a new stake in Carrier Global in the 1st quarter valued at about $2,019,000. Kintegral Advisory LLC increased its position in Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after buying an additional 8,705 shares in the last quarter. Finally, Rockport Wealth LLC acquired a new position in Carrier Global during the 1st quarter worth approximately $478,000. 91.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research reports. 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 note on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Stock Up 2.1 %

Shares of NYSE:CARR opened at $73.90 on Wednesday. Carrier Global Co. has a 1 year low of $49.62 and a 1 year high of $83.32. The company has a market capitalization of $66.31 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The business has a fifty day moving average price of $76.94 and a two-hundred day moving average price of $68.94. 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 declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s payout ratio is currently 19.24%.

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.