Concentric Capital Strategies LP Buys 3,495 Shares of Carrier Global Co. (NYSE:CARR)

Concentric Capital Strategies LP increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,834 shares of the company’s stock after acquiring an additional 3,495 shares during the period. Concentric Capital Strategies LP’s holdings in Carrier Global were worth $4,977,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CARR. Cetera Investment Advisers grew its stake in shares of Carrier Global by 250.4% in the first quarter. Cetera Investment Advisers now owns 162,952 shares of the company’s stock valued at $9,472,000 after buying an additional 116,453 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Carrier Global by 48.2% during the 1st quarter. Cetera Advisors LLC now owns 67,181 shares of the company’s stock worth $3,905,000 after purchasing an additional 21,863 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of Carrier Global by 85.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,468 shares of the company’s stock valued at $408,000 after purchasing an additional 2,982 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Carrier Global by 34.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,202 shares of the company’s stock valued at $265,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Carrier Global during the second quarter worth about $71,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

NYSE:CARR opened at $77.37 on Monday. The company has a market cap of $69.42 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.86 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 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 fifty day moving average price of $77.75 and a 200-day moving average price of $70.75.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. Carrier Global’s payout ratio is 19.24%.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on CARR. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Eight investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

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.