Carrier Global Co. (NYSE:CARR) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,665 shares of the company’s stock after selling 564 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Carrier Global were worth $536,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CARR. JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $58,415,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CARR. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Barclays decreased their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Mizuho increased 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. Finally, Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Down 1.4 %

CARR opened at $74.60 on Wednesday. The firm has a market cap of $67.35 billion, a P/E ratio of 52.17, a PEG ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business’s fifty day simple moving average is $76.72 and its 200 day simple moving average is $68.28. Carrier Global Co. has a 52 week low of $46.77 and a 52 week high of $83.32.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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.