Fifth Third Wealth Advisors LLC Has $732,000 Stake in Carrier Global Co. (NYSE:CARR)

Fifth Third Wealth Advisors LLC reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,099 shares of the company’s stock after selling 1,205 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Carrier Global were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its stake in shares of Carrier Global by 21.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 42,531 shares of the company’s stock valued at $2,472,000 after acquiring an additional 7,422 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Carrier Global during the 1st quarter worth approximately $38,000. EP Wealth Advisors LLC increased its holdings in shares of Carrier Global by 7.9% during the first quarter. EP Wealth Advisors LLC now owns 11,245 shares of the company’s stock worth $654,000 after purchasing an additional 823 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Carrier Global by 5.9% in the first quarter. Axxcess Wealth Management LLC now owns 14,617 shares of the company’s stock valued at $850,000 after buying an additional 809 shares during the period. Finally, Rodgers Brothers Inc. grew its position in Carrier Global by 8.6% during the first quarter. Rodgers Brothers Inc. now owns 7,005 shares of the company’s stock worth $407,000 after buying an additional 552 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

NYSE CARR opened at $74.50 on Thursday. The company has a market capitalization of $66.84 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32. The stock has a fifty day simple moving average of $77.86 and a 200 day simple moving average of $70.10. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

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

Carrier Global Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CARR. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price 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 on the stock in a research report on Friday, October 25th. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.31.

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.