Oppenheimer Asset Management Inc. Invests $200,000 in Carrier Global Co. (NYSE:CARR)

Oppenheimer Asset Management Inc. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,489 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Point72 Asset Management L.P. acquired a new position in Carrier Global during the 2nd quarter worth approximately $58,415,000. International Assets Investment Management LLC increased its position in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares during the period. Swedbank AB acquired a new stake in shares of Carrier Global in the 1st quarter valued at approximately $24,600,000. Finally, Albar Capital Ltd acquired a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $24,551,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on CARR. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer raised their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Price Performance

Shares of CARR stock opened at $74.50 on Thursday. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The stock has a 50-day moving average price of $77.86 and a 200 day moving average price of $70.10. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $66.84 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.68 and a beta of 1.34.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

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