Pacer Advisors Inc. Has $6.38 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Pacer Advisors Inc. grew its stake in Carrier Global Co. (NYSE:CARR) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,226 shares of the company’s stock after purchasing an additional 7,265 shares during the quarter. Pacer Advisors Inc.’s holdings in Carrier Global were worth $6,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the period. Essex Savings Bank raised its stake in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the period. Boston Financial Mangement LLC lifted its holdings in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares in the last quarter. Sittner & Nelson LLC grew its holdings in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. Finally, Marathon Capital Management raised its position in Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after buying an additional 156 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Barclays decreased their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Mizuho raised their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. 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 report on Wednesday, November 13th. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Eight equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Performance

NYSE:CARR opened at $77.00 on Monday. 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 Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The company has a market cap of $69.09 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.73 and a beta of 1.34. The stock has a fifty day moving average price of $77.88 and a 200-day moving average price of $70.32.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.