Prudent Man Advisors LLC Takes $879,000 Position in Carrier Global Co. (NYSE:CARR)

Prudent Man Advisors LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,925 shares of the company’s stock, valued at approximately $879,000.

A number of other large investors also recently added to or reduced their stakes in CARR. Capital International Investors boosted its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 139.7% in the 2nd 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 last quarter. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 72,633 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Carrier Global by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after purchasing an additional 147,835 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after buying an additional 20,500 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

NYSE:CARR opened at $74.53 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $77.73 and a 200 day simple moving average of $69.89. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The stock has a market capitalization of $66.87 billion, a PE ratio of 18.87, a P/E/G ratio of 2.68 and a beta of 1.34.

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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Analysts Set New Price Targets

Several research analysts have weighed in on CARR shares. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Oppenheimer boosted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Company 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.