BIP Wealth LLC Makes New $417,000 Investment in Carrier Global Co. (NYSE:CARR)

BIP Wealth LLC acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,175 shares of the company’s stock, valued at approximately $417,000.

Other large investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in Carrier Global by 21.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 42,531 shares of the company’s stock worth $2,472,000 after purchasing an additional 7,422 shares during the period. National Bank of Canada FI lifted its stake in shares of Carrier Global by 0.9% in the 1st quarter. National Bank of Canada FI now owns 341,221 shares of the company’s stock valued at $19,835,000 after acquiring an additional 3,099 shares during the last quarter. Pitcairn Co. boosted its holdings in Carrier Global by 1.9% during the 1st quarter. Pitcairn Co. now owns 15,919 shares of the company’s stock valued at $925,000 after acquiring an additional 292 shares during the period. Crewe Advisors LLC bought a new position in Carrier Global during the 1st quarter worth approximately $146,000. Finally, EntryPoint Capital LLC purchased a new position in Carrier Global in the 1st quarter worth approximately $38,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $74.27 on Wednesday. The firm has a 50 day moving average of $77.84 and a 200 day moving average of $70.07. 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 market capitalization of $66.64 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32.

Carrier Global Dividend Announcement

The business also recently disclosed 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 1.02%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent analyst reports. Barclays cut their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Stephens decreased their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company dropped their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.