Anchor Investment Management LLC Buys 355 Shares of Carrier Global Co. (NYSE:CARR)

Anchor Investment Management LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 6.6% during the third quarter, Holdings Channel.com reports. The fund owned 5,745 shares of the company’s stock after buying an additional 355 shares during the period. Anchor Investment Management LLC’s holdings in Carrier Global were worth $462,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CARR. FMR LLC grew its holdings 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. Zurich Insurance Group Ltd FI bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $130,479,000. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the second quarter worth approximately $58,415,000. Mizuho Securities USA LLC increased its holdings in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC lifted 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 buying an additional 897,061 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.7 %

NYSE CARR opened at $73.02 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $76.52 and a 200 day simple moving average of $71.28. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The firm has a market capitalization of $65.52 billion, a P/E ratio of 18.49, a PEG ratio of 2.73 and a beta of 1.33.

Carrier Global announced that its board has approved 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 reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Royal Bank of Canada dropped their price objective 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. JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Oppenheimer boosted their target price 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

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.