Carrier Global Corporation $CARR Shares Bought by AlphaQuest LLC

AlphaQuest LLC increased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 103.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,241 shares of the company’s stock after acquiring an additional 9,277 shares during the quarter. AlphaQuest LLC’s holdings in Carrier Global were worth $1,089,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CARR. Vanguard Group Inc. increased its holdings in shares of Carrier Global by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after acquiring an additional 450,594 shares during the period. JPMorgan Chase & Co. boosted its stake in Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after buying an additional 7,409,432 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Carrier Global by 3.1% in the 2nd quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock worth $1,101,404,000 after purchasing an additional 448,055 shares during the last quarter. Brown Advisory Inc. grew its position in Carrier Global by 6.3% in the second quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock worth $752,533,000 after buying an additional 607,901 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Carrier Global in the 2nd quarter worth $524,939,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CARR has been the topic of several analyst reports. Rothschild & Co Redburn dropped their target price on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Barclays dropped their price target on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group cut their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada dropped their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, December 5th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $59.60 on Monday. The firm has a market capitalization of $50.20 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.40 and a beta of 1.32. Carrier Global Corporation has a one year low of $50.24 and a one year high of $81.09. The business has a fifty day simple moving average of $54.57 and a 200 day simple moving average of $59.69. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76.

Carrier Global announced that its board has authorized a share repurchase plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is presently 21.48%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.