Hudson Valley Investment Advisors Inc. ADV Takes Position in Carrier Global Co. (NYSE:CARR)

Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, Holdings Channel reports. The firm purchased 2,494 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. Norden Group LLC acquired a new position in Carrier Global in the first quarter valued at $3,982,000. First Trust Direct Indexing L.P. raised its stake in Carrier Global by 17.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 21,456 shares of the company’s stock valued at $1,247,000 after acquiring an additional 3,121 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Carrier Global by 24.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 14,732 shares of the company’s stock worth $855,000 after acquiring an additional 2,870 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Carrier Global in the 1st quarter valued at approximately $383,000. Finally, Mission Wealth Management LP increased its holdings in shares of Carrier Global by 9.5% in the first quarter. Mission Wealth Management LP now owns 6,501 shares of the company’s stock valued at $378,000 after purchasing an additional 564 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

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 shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Stock Performance

Shares of CARR stock opened at $72.72 on Friday. The company’s fifty day moving average price is $76.86 and its two-hundred day moving average price is $68.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market capitalization of $65.65 billion, a P/E ratio of 50.85, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12 month low of $47.12 and a 12 month high of $83.32.

Carrier Global Dividend Announcement

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

Carrier Global declared that its board has approved a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is owned by insiders.

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.