1620 Investment Advisors Inc. Has $36,000 Stock Holdings in Carrier Global Co. (NYSE:CARR)

1620 Investment Advisors Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 46.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 442 shares of the company’s stock after selling 382 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Carrier Global were worth $36,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the second quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global during the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CARR. Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada decreased 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 note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $72.72 on Friday. Carrier Global Co. has a 52-week low of $47.12 and a 52-week high of $83.32. The stock has a market cap of $65.65 billion, a PE ratio of 50.85, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm’s 50 day moving average price is $76.86 and its two-hundred day moving average price is $68.35.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. Carrier Global’s dividend payout ratio is 53.15%.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.