Quest Partners LLC Takes $373,000 Position in Carrier Global Co. (NYSE:CARR)

Quest Partners LLC acquired a new position in Carrier Global Co. (NYSE:CARR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,636 shares of the company’s stock, valued at approximately $373,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. raised its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Carrier Global in the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new position in Carrier Global in the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. raised its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CARR shares. Northcoast Research started coverage on Carrier Global in a research note on Friday. They issued a “neutral” rating on the stock. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

Carrier Global stock opened at $77.00 on Monday. 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 firm has a 50-day moving average of $77.88 and a 200-day moving average of $70.32. The firm has a market cap of $69.09 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.73 and a beta of 1.34. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32.

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

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 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.