Carrier Global Co. (NYSE:CARR) Short Interest Update

Carrier Global Co. (NYSE:CARR) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 10,170,000 shares, a decline of 20.7% from the October 15th total of 12,830,000 shares. Based on an average trading volume of 3,570,000 shares, the short-interest ratio is presently 2.8 days. Approximately 1.2% of the shares of the stock are sold short.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.44 on Friday, hitting $74.53. 4,549,950 shares of the company were exchanged, compared to its average volume of 4,173,486. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.74 and a beta of 1.34. 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 has a one year low of $51.20 and a one year high of $83.32. The company’s 50 day moving average price is $77.63 and its two-hundred day moving average price is $69.69.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CARR. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Robert W. Baird dropped their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Institutional Investors Weigh In On Carrier Global

Several institutional investors have recently made changes to their positions in the stock. FSM Wealth Advisors LLC grew its holdings in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the last quarter. Essex Savings Bank increased its position in shares of Carrier Global by 2.2% during the third 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 last quarter. Boston Financial Mangement LLC boosted its position in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after purchasing an additional 150 shares during the period. Finally, Sittner & Nelson LLC grew 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 valued at $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

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.