Kingsview Wealth Management LLC Has $1.30 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Kingsview Wealth Management LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,089 shares of the company’s stock after acquiring an additional 1,040 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Carrier Global were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its position in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the period. Kintegral Advisory LLC lifted its holdings in Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after buying an additional 8,705 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in Carrier Global in the second quarter valued at approximately $7,720,000. Vista Investment Partners LLC acquired a new stake in Carrier Global during the 2nd quarter worth $744,000. Finally, Janus Henderson Group PLC raised its position in shares of Carrier Global by 28.8% during the 1st quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after acquiring an additional 65,796 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays reduced their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Finally, Stephens lowered 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. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Down 2.5 %

CARR stock opened at $76.91 on Wednesday. The business has a 50-day moving average of $77.90 and a 200-day moving average of $70.49. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The stock has a market capitalization of $69.01 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is currently 19.24%.

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

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.