Townsquare Capital LLC Has $1.32 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Townsquare Capital LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 67.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,337 shares of the company’s stock after acquiring an additional 6,608 shares during the quarter. Townsquare Capital LLC’s holdings in Carrier Global were worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Olistico Wealth LLC bought a new position in Carrier Global during the 2nd quarter valued at about $25,000. 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 worth $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new stake in Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Trading Up 0.6 %

NYSE CARR opened at $77.37 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The company has a market capitalization of $69.42 billion, a PE ratio of 19.59, a P/E/G ratio of 2.86 and a beta of 1.34. The stock has a 50-day simple moving average of $77.75 and a 200 day simple moving average of $70.75.

Carrier Global Dividend Announcement

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

Carrier Global announced that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are 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.