Aureus Asset Management LLC Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Aureus Asset Management LLC lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,129 shares of the company’s stock after selling 3,030 shares during the quarter. Aureus Asset Management LLC’s holdings in Carrier Global were worth $2,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PineStone Asset Management Inc. increased its holdings in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. FMR LLC increased its holdings in Carrier Global by 36.2% in 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in Carrier Global in the 2nd quarter worth approximately $58,415,000. Mizuho Securities USA LLC increased its holdings in Carrier Global by 1,428.4% in 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 in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CARR. Mizuho increased their target price 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. Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Up 0.6 %

NYSE CARR opened at $77.37 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $69.42 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.86 and a beta of 1.34. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The stock has a 50 day moving average price of $77.75 and a 200-day moving average price of $70.75.

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

Carrier Global Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.98%. Carrier Global’s payout ratio is presently 19.24%.

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.