Nwam LLC Makes New $274,000 Investment in Carrier Global Co. (NYSE:CARR)

Nwam LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,407 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC boosted its stake in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Carrier Global by 9.1% in the third quarter. Raymond James Trust N.A. now owns 35,710 shares of the company’s stock worth $2,874,000 after buying an additional 2,982 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Carrier Global by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock valued at $381,877,000 after acquiring an additional 49,196 shares during the period. Banco Santander S.A. purchased a new position in Carrier Global during the third quarter valued at approximately $216,000. Finally, Navellier & Associates Inc. bought a new stake in Carrier Global during the 3rd quarter worth approximately $250,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 2.4 %

Shares of CARR opened at $78.86 on Tuesday. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The firm has a market cap 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 firm has a 50 day moving average price of $77.92 and a 200-day moving average price of $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 declared that its board has approved a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid 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 presently 19.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CARR shares. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Wells Fargo & Company decreased their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Finally, Stephens decreased 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.