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

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

A number of other large investors have also recently made changes to their positions in CARR. FMR LLC raised its stake in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the period. Qsemble Capital Management LP increased its stake in shares of Carrier Global by 19.0% in the third quarter. Qsemble Capital Management LP now owns 18,842 shares of the company’s stock worth $1,517,000 after purchasing an additional 3,007 shares in the last quarter. Bank of Montreal Can raised its position in shares of Carrier Global by 1.6% during the 3rd quarter. Bank of Montreal Can now owns 851,201 shares of the company’s stock valued at $68,539,000 after purchasing an additional 13,714 shares during the period. Private Trust Co. NA lifted its stake in shares of Carrier Global by 23.4% during the 3rd quarter. Private Trust Co. NA now owns 11,004 shares of the company’s stock valued at $886,000 after buying an additional 2,086 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Carrier Global in the 3rd quarter worth $78,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. Northcoast Research began coverage on Carrier Global in a report on Friday. They set a “neutral” rating on the stock. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Up 2.4 %

Shares of NYSE CARR opened at $78.86 on Tuesday. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The firm has a 50-day simple moving average of $77.92 and a two-hundred day simple moving average of $70.41. The company has a market cap of $70.76 billion, a P/E 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 current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

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

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.