Caldwell Investment Management Ltd. Acquires Shares of 15,100 Carrier Global Co. (NYSE:CARR)

Caldwell Investment Management Ltd. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,100 shares of the company’s stock, valued at approximately $1,215,000. Carrier Global comprises approximately 0.9% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 25th biggest position.

Other large investors have also made changes to their positions in the company. Capital International Investors boosted its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. grew its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $58,415,000. Mizuho Securities USA LLC boosted its stake in Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 0.6 %

NYSE CARR opened at $74.05 on Tuesday. The company has a market cap of $66.44 billion, a PE ratio of 18.75, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The stock has a 50 day moving average of $77.79 and a 200-day moving average of $69.99. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company decreased their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Mizuho raised their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global 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.