Caldwell Investment Management Ltd. Purchases New Stake in Carrier Global Co. (NYSE:CARR)

Caldwell Investment Management Ltd. acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, HoldingsChannel.com reports. The firm acquired 15,100 shares of the company’s stock, valued at approximately $1,215,000. Carrier Global accounts for 0.9% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 25th biggest holding.

Several other large investors also recently modified their holdings of CARR. Olistico Wealth LLC bought a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the third quarter valued at approximately $37,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% during 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. Finally, Country Trust Bank bought a new stake in Carrier Global in the 3rd quarter valued at $40,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 0.6 %

Shares of CARR opened at $74.05 on Tuesday. The stock has a market capitalization of $66.44 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a fifty day moving average of $77.79 and a 200-day moving average of $69.99.

Carrier Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CARR. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Bank of America raised their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Robert W. Baird lowered their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, seven have issued 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 a consensus price target of $82.31.

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.