Verition Fund Management LLC Has $22.42 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Verition Fund Management LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 123.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,569 shares of the company’s stock after buying an additional 153,741 shares during the quarter. Verition Fund Management LLC’s holdings in Carrier Global were worth $22,422,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in Carrier Global in the second quarter valued at $25,000. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. boosted its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. Finally, Country Trust Bank bought a new position in shares of Carrier Global in the third quarter valued at $40,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Barclays cut their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada dropped their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Carrier Global stock opened at $76.90 on Friday. The business’s 50-day moving average price is $77.80 and its two-hundred day moving average price is $70.58. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. 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 stock has a market cap of $69.00 billion, a PE ratio of 19.47, a P/E/G ratio of 2.85 and a beta of 1.34.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given 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 0.99%. Carrier Global’s dividend payout ratio is currently 19.24%.

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

Carrier Global 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.