Concentric Capital Strategies LP Acquires 3,495 Shares of Carrier Global Co. (NYSE:CARR)

Concentric Capital Strategies LP increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 6.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,834 shares of the company’s stock after purchasing an additional 3,495 shares during the period. Concentric Capital Strategies LP’s holdings in Carrier Global were worth $4,977,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. FSA Wealth Management LLC bought a new position in shares of Carrier Global in the third quarter worth about $28,000. Olistico Wealth LLC bought a new position in Carrier Global in the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. boosted 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 valued at $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global during the third quarter worth $37,000. Finally, Meeder Asset Management Inc. increased its holdings 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 buying an additional 405 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CARR shares. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Barclays reduced their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Bank of America raised their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $77.37 on Monday. The business has a 50-day moving average price of $77.75 and a two-hundred day moving average price of $70.75. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. 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 company has a market cap of $69.42 billion, a P/E ratio of 19.59, a PEG ratio of 2.86 and a beta of 1.34.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.98%. Carrier Global’s dividend payout ratio is currently 19.24%.

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

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.