Intact Investment Management Inc. Takes Position in Carrier Global Co. (NYSE:CARR)

Intact Investment Management Inc. bought a new stake in Carrier Global Co. (NYSE:CARR) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 12,040 shares of the company’s stock, valued at approximately $969,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter valued at $25,000. McClarren Financial Advisors Inc. increased its position in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Meeder Asset Management Inc. increased its position in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. Country Trust Bank acquired a new stake in Carrier Global in the third quarter worth about $40,000. Finally, EdgeRock Capital LLC acquired a new stake in Carrier Global in the second quarter worth about $32,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research reports. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Stephens reduced their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Trading Down 0.3 %

NYSE:CARR opened at $72.40 on Tuesday. Carrier Global Co. has a fifty-two week low of $49.62 and a fifty-two week high of $83.32. 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 stock has a market capitalization of $64.96 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The business’s 50-day simple moving average is $76.90 and its 200-day simple moving average is $68.80.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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 outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.95% of the company’s stock.

Carrier Global 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.