Navellier & Associates Inc. Makes New $250,000 Investment in Carrier Global Co. (NYSE:CARR)

Navellier & Associates Inc. bought a new stake in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, HoldingsChannel reports. The fund bought 3,110 shares of the company’s stock, valued at approximately $250,000.

Other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC raised its position in Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Carrier Global in the first quarter worth approximately $2,019,000. Kintegral Advisory LLC lifted its stake in shares of Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after acquiring an additional 8,705 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new position in Carrier Global during the 2nd quarter valued at $7,720,000. Finally, Vista Investment Partners LLC bought a new position in Carrier Global in the 2nd quarter valued at $744,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CARR shares. Barclays decreased their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. 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 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Up 1.3 %

Carrier Global stock opened at $77.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $69.09 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.67 and a beta of 1.34. The business has a fifty day moving average of $77.88 and a two-hundred day moving average of $70.23. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.