Empirical Finance LLC Has $2.32 Million Stake in Carrier Global Co. (NYSE:CARR)

Empirical Finance LLC raised its position in Carrier Global Co. (NYSE:CARR) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,829 shares of the company’s stock after acquiring an additional 643 shares during the quarter. Empirical Finance LLC’s holdings in Carrier Global were worth $2,320,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Sei Investments Co. lifted its holdings in Carrier Global by 0.6% during the 1st quarter. Sei Investments Co. now owns 238,181 shares of the company’s stock valued at $13,846,000 after purchasing an additional 1,519 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Carrier Global by 8.0% in the 1st quarter. Kingsview Wealth Management LLC now owns 13,866 shares of the company’s stock valued at $806,000 after buying an additional 1,023 shares during the last quarter. Blair William & Co. IL raised its holdings in Carrier Global by 36.1% in the 1st quarter. Blair William & Co. IL now owns 149,758 shares of the company’s stock valued at $8,705,000 after acquiring an additional 39,739 shares during the period. Orion Portfolio Solutions LLC lifted its position in Carrier Global by 7.3% during the first quarter. Orion Portfolio Solutions LLC now owns 41,008 shares of the company’s stock worth $2,384,000 after acquiring an additional 2,792 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Down 0.6 %

Shares of CARR stock opened at $74.53 on Friday. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The stock’s fifty day moving average price is $77.73 and its two-hundred day moving average price is $69.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $66.87 billion, a PE ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global announced that its Board of Directors has authorized a share repurchase 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 leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CARR has been the subject of several research reports. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada lowered their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.