CWA Asset Management Group LLC Makes New $272,000 Investment in Carrier Global Co. (NYSE:CARR)

CWA Asset Management Group LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,374 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds also recently modified their holdings of CARR. Atomi Financial Group Inc. acquired a new stake in shares of Carrier Global during the first quarter valued at about $216,000. Sei Investments Co. raised its holdings in Carrier Global by 0.6% in the 1st quarter. Sei Investments Co. now owns 238,181 shares of the company’s stock valued at $13,846,000 after buying an additional 1,519 shares during the last quarter. QRG Capital Management Inc. boosted its position in Carrier Global by 6.0% during the 1st quarter. QRG Capital Management Inc. now owns 58,291 shares of the company’s stock worth $3,388,000 after buying an additional 3,295 shares during the period. Avantax Advisory Services Inc. grew its holdings in Carrier Global by 2.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 64,265 shares of the company’s stock worth $3,736,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in Carrier Global by 8.4% in the 1st quarter. Bleakley Financial Group LLC now owns 49,069 shares of the company’s stock valued at $2,852,000 after acquiring an additional 3,820 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $75.40 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $77.26 and its 200-day moving average price is $69.50. The firm has a market capitalization of $67.65 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a 1-year low of $50.67 and a 1-year high of $83.32.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Stephens lowered their price objective on 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. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company decreased their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.33.

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.