Morse Asset Management Inc Invests $201,000 in Carrier Global Co. (NYSE:CARR)

Morse Asset Management Inc acquired a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,500 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares in the last quarter. FMR LLC raised its holdings in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares during the period. PineStone Asset Management Inc. raised its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after buying an additional 110,988 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Carrier Global by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock valued at $381,877,000 after buying an additional 49,196 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

CARR opened at $75.37 on Thursday. Carrier Global Co. has a 12-month low of $52.44 and a 12-month 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 business’s fifty day simple moving average is $77.47 and its 200-day simple moving average is $70.93. The company has a market capitalization of $67.62 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.82 and a beta of 1.33.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its board has initiated a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CARR. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company cut their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Finally, Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.