Mawer Investment Management Ltd. Has $44.97 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Mawer Investment Management Ltd. reduced its position in Carrier Global Co. (NYSE:CARR) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 558,698 shares of the company’s stock after selling 220,452 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.06% of Carrier Global worth $44,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC lifted its position in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares during the period. Quadrature Capital Ltd bought a new position in shares of Carrier Global during the first quarter valued at $2,019,000. Kintegral Advisory LLC lifted its holdings in shares of Carrier Global by 44.2% during the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after acquiring an additional 8,705 shares during the period. Rockport Wealth LLC bought a new position in shares of Carrier Global during the first quarter valued at $478,000. Finally, Foster Victor Wealth Advisors LLC bought a new position in shares of Carrier Global during the second quarter valued at $7,720,000. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CARR shares. 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 target for the company. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada cut their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Stephens lowered their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Seven 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 company. According to MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Trading Down 0.2 %

CARR stock traded down $0.13 during trading on Monday, hitting $74.40. 141,401 shares of the company traded hands, compared to its average volume of 4,155,365. The firm has a market capitalization of $66.75 billion, a PE ratio of 18.87, a P/E/G ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The company has a 50-day moving average of $77.73 and a 200-day moving average of $69.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global declared that its Board of Directors has approved 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given 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 of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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.