Carrier Global Co. (NYSE:CARR) Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its position in Carrier Global Co. (NYSE:CARR) by 34.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 872 shares of the company’s stock after acquiring an additional 225 shares during the period. Prestige Wealth Management Group LLC’s holdings in Carrier Global were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Carrier Global during the third quarter worth $28,000. Meeder Asset Management Inc. boosted its stake in 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 during the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the second quarter worth $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global during the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. boosted its stake in 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 during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.5 %

Shares of NYSE CARR opened at $72.83 on Wednesday. The stock has a market cap of $65.35 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The business has a 50-day moving average price of $77.07 and a 200 day moving average price of $71.14.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.24%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Analysts Set New Price Targets

A number of research firms have commented on CARR. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Morgan Stanley began coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Finally, Barclays lifted their target price on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Eight research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.54.

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.