Qsemble Capital Management LP Purchases 3,007 Shares of Carrier Global Co. (NYSE:CARR)

Qsemble Capital Management LP grew its position in shares of Carrier Global Co. (NYSE:CARR) by 19.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,842 shares of the company’s stock after purchasing an additional 3,007 shares during the quarter. Qsemble Capital Management LP’s holdings in Carrier Global were worth $1,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. increased its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Up 2.4 %

Shares of Carrier Global stock opened at $78.86 on Tuesday. The company’s 50-day moving average price is $77.92 and its 200-day moving average price is $70.41. 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 cap of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34.

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

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 issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. Carrier Global’s dividend payout ratio is 19.24%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CARR shares. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Northcoast Research began coverage on shares of Carrier Global in a report on Friday. They set a “neutral” rating on the stock. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

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.