Nwam LLC Invests $274,000 in Carrier Global Co. (NYSE:CARR)

Nwam LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,407 shares of the company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Frank Rimerman Advisors LLC raised its stake in shares of Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the last quarter. Kintegral Advisory LLC raised its position in Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after purchasing an additional 8,705 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new stake in Carrier Global in the 2nd quarter worth approximately $7,720,000. Vista Investment Partners LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $744,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after acquiring an additional 65,796 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CARR. Royal Bank of Canada cut their price target 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. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eight 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 company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Up 2.4 %

Shares of NYSE:CARR opened at $78.86 on Tuesday. 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 stock has a fifty day simple moving average of $77.92 and a two-hundred day simple moving average of $70.41. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global announced that its board has authorized a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often 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.