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

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

A number of other institutional investors have also recently bought and sold shares of the stock. FSM Wealth Advisors LLC increased its stake in Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC boosted its position in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the period. Essex Savings Bank boosted its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares during the period. Boston Financial Mangement LLC boosted its position in Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the period. Finally, Sittner & Nelson LLC boosted its position in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 2.4 %

Shares of CARR stock opened at $78.86 on Tuesday. The stock’s 50 day simple moving average is $77.92 and its 200 day simple moving average is $70.41. 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 twelve month low of $51.20 and a twelve month high of $83.32. The company 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.

Carrier Global Dividend Announcement

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

Carrier Global declared that its Board of Directors has approved 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 repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Barclays reduced their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird reduced their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $82.31.

About Carrier Global

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.