Carrier Global Co. (NYSE:CARR) Stock Position Cut by Caprock Group LLC

Caprock Group LLC lessened its stake in Carrier Global Co. (NYSE:CARR) by 11.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,956 shares of the company’s stock after selling 2,759 shares during the period. Caprock Group LLC’s holdings in Carrier Global were worth $1,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter valued at about $25,000. McClarren Financial Advisors Inc. boosted its position in shares of Carrier Global by 246.0% during 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 in the last quarter. Coastline Trust Co bought a new position in shares of Carrier Global during the 3rd quarter valued at about $37,000. Meeder Asset Management Inc. boosted 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 valued at $29,000 after purchasing an additional 405 shares in the last quarter. Finally, Country Trust Bank bought a new position in shares of Carrier Global during the 3rd quarter valued at about $40,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of several research reports. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays dropped their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Seven 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 MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Performance

CARR stock opened at $74.50 on Thursday. 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 stock has a market cap of $66.84 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.68 and a beta of 1.34. The firm has a 50 day simple moving average of $77.86 and a 200 day simple moving average of $70.10. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32.

Carrier Global declared that its board has approved a share buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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.