Janney Montgomery Scott LLC Sells 1,205 Shares of Carrier Global Co. (NYSE:CARR)

Janney Montgomery Scott LLC cut its holdings in Carrier Global Co. (NYSE:CARR) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,243 shares of the company’s stock after selling 1,205 shares during the period. Janney Montgomery Scott LLC’s holdings in Carrier Global were worth $13,139,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CARR. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the second quarter valued at $25,000. McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 246.0% in 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 period. Meeder Asset Management Inc. grew its holdings in Carrier Global by 675.0% during 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 in the last quarter. Country Trust Bank bought a new stake in shares of Carrier Global during the third quarter valued at about $40,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the second quarter worth about $32,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Up 2.0 %

Shares of CARR opened at $75.38 on Thursday. Carrier Global Co. has a 1 year low of $49.62 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $76.94 and a two-hundred day simple moving average of $68.94. The firm has a market cap of $67.63 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.61 and a beta of 1.34.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CARR. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada dropped their price objective 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. Finally, Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

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.