Oppenheimer & Co. Inc. Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Oppenheimer & Co. Inc. increased its holdings in Carrier Global Co. (NYSE:CARR) by 25.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,810 shares of the company’s stock after purchasing an additional 13,354 shares during the period. Oppenheimer & Co. Inc.’s holdings in Carrier Global were worth $5,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FSM Wealth Advisors LLC boosted its position in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Essex Savings Bank boosted its holdings in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares during the period. Boston Financial Mangement LLC grew its position in Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the last quarter. Sittner & Nelson LLC increased its stake in Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares during the period. Finally, Marathon Capital Management lifted its position in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $74.97 on Friday. The company’s fifty day moving average price is $77.51 and its 200-day moving average price is $69.66. The stock has a market cap of $67.27 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32.

Carrier Global declared that its board has initiated a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is currently 19.24%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Mizuho raised their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price 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.