Avity Investment Management Inc. Purchases 66,204 Shares of Carrier Global Co. (NYSE:CARR)

Avity Investment Management Inc. grew its position in Carrier Global Co. (NYSE:CARR) by 27.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 307,003 shares of the company’s stock after buying an additional 66,204 shares during the period. Carrier Global makes up 1.6% of Avity Investment Management Inc.’s portfolio, making the stock its 29th largest position. Avity Investment Management Inc.’s holdings in Carrier Global were worth $20,956,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Carrier Global in the 3rd quarter valued at $130,479,000. Point72 Asset Management L.P. bought a new stake in Carrier Global in the 2nd quarter valued at $58,415,000. Mizuho Securities USA LLC boosted its stake 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 purchasing an additional 922,892 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $68.36 on Wednesday. The company’s 50-day moving average is $72.34 and its 200-day moving average is $72.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market capitalization of $61.33 billion, a PE ratio of 17.31, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Analyst Ratings Changes

A number of research firms recently issued reports on CARR. Mizuho increased their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.36.

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.