Qsemble Capital Management LP Buys 3,007 Shares of Carrier Global Co. (NYSE:CARR)

Qsemble Capital Management LP grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 19.0% during the third quarter, HoldingsChannel reports. The firm owned 18,842 shares of the company’s stock after purchasing an additional 3,007 shares during the quarter. Qsemble Capital Management LP’s holdings in Carrier Global were worth $1,517,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Olistico Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter worth about $25,000. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co bought a new position in Carrier Global in the 3rd quarter worth about $37,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Finally, Country Trust Bank purchased a new position in Carrier Global in the third quarter worth about $40,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. 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. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday. They set a “neutral” rating for the company. Finally, Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight 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 currently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Up 2.4 %

Shares of Carrier Global stock opened at $78.86 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34. The firm’s 50-day moving average is $77.92 and its two-hundred day moving average is $70.41. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.96%. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.