RS Crum Inc. Acquires Shares of 2,600 Carrier Global Co. (NYSE:CARR)

RS Crum Inc. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,600 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC increased its stake in Carrier Global by 67.9% during the 3rd quarter. Townsquare Capital LLC now owns 16,337 shares of the company’s stock worth $1,315,000 after acquiring an additional 6,608 shares during the period. Shum Financial Group Inc. acquired a new stake in shares of Carrier Global during the 3rd quarter worth $207,000. Avestar Capital LLC increased its position in shares of Carrier Global by 3.6% in the third quarter. Avestar Capital LLC now owns 11,930 shares of the company’s stock worth $960,000 after purchasing an additional 416 shares during the period. Brooklyn Investment Group acquired a new position in Carrier Global in the third quarter valued at about $250,000. Finally, Prospector Partners LLC lifted its position in Carrier Global by 0.3% during the third quarter. Prospector Partners LLC now owns 274,795 shares of the company’s stock worth $22,118,000 after purchasing an additional 950 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Eight investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

Carrier Global stock opened at $76.91 on Wednesday. The business has a 50 day moving average of $77.90 and a 200-day moving average of $70.49. 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 Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The company has a market capitalization of $69.01 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34.

Carrier Global Announces Dividend

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

Carrier Global announced that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.