Aurora Investment Counsel Sells 9,768 Shares of Carrier Global Co. (NYSE:CARR)

Aurora Investment Counsel cut its stake in Carrier Global Co. (NYSE:CARR) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,828 shares of the company’s stock after selling 9,768 shares during the period. Carrier Global accounts for 1.3% of Aurora Investment Counsel’s investment portfolio, making the stock its 16th largest holding. Aurora Investment Counsel’s holdings in Carrier Global were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PineStone Asset Management Inc. raised its position 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 worth $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after buying an additional 72,633 shares during the period. Dimensional Fund Advisors LP lifted its stake in Carrier Global by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock valued at $271,202,000 after buying an additional 147,835 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Carrier Global by 0.4% during the 3rd quarter. Swiss National Bank now owns 2,406,985 shares of the company’s stock worth $193,738,000 after buying an additional 8,500 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CARR. Stephens cut their target price 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, October 28th. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Up 0.2 %

Shares of CARR stock opened at $74.50 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $66.84 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The company has a 50-day simple moving average of $77.86 and a two-hundred day simple moving average of $70.10.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

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.