RS Crum Inc. Buys New Position in Carrier Global Co. (NYSE:CARR)

RS Crum Inc. purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, HoldingsChannel reports. The firm purchased 2,600 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $38,000. Silvercrest Asset Management Group LLC grew its position in shares of Carrier Global by 3.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock worth $2,778,000 after buying an additional 1,761 shares during the period. Janus Henderson Group PLC increased its stake in shares of Carrier Global by 28.8% in the 1st 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. B. Riley Wealth Advisors Inc. lifted its position in shares of Carrier Global by 203.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock valued at $2,232,000 after acquiring an additional 27,100 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Carrier Global by 5,022.5% in the first quarter. Plato Investment Management Ltd now owns 26,381 shares of the company’s stock worth $1,534,000 after purchasing an additional 25,866 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CARR shares. Barclays dropped their price objective 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. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Down 2.5 %

Carrier Global stock opened at $76.91 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $69.01 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.34. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The firm’s 50-day simple moving average is $77.90 and its 200 day simple moving average is $70.49.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors 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 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

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

Carrier Global 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.