Carrier Global Co. (NYSE:CARR) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,326 shares of the company’s stock after acquiring an additional 645 shares during the quarter. Ballentine Partners LLC’s holdings in Carrier Global were worth $1,234,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CARR. Vanguard Group Inc. increased its position in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital International Investors grew its holdings in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. JPMorgan Chase & Co. raised its position in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in 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. Finally, Victory Capital Management Inc. boosted its position in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after purchasing an additional 72,633 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $73.72 on Friday. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average is $76.46 and its two-hundred day moving average is $67.87.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.61 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

CARR has been the subject of a number of research analyst reports. Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada reduced their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $81.75.

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.