Carrier Global Co. (NYSE:CARR) Position Trimmed by Capital Management Corp VA

Capital Management Corp VA reduced its holdings in Carrier Global Co. (NYSE:CARR) by 8.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 101,849 shares of the company’s stock after selling 9,937 shares during the period. Capital Management Corp VA’s holdings in Carrier Global were worth $8,198,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norden Group LLC bought a new position in Carrier Global during the 1st quarter worth $235,000. Janney Montgomery Scott LLC increased its holdings in shares of Carrier Global by 4.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 161,601 shares of the company’s stock worth $9,394,000 after acquiring an additional 6,553 shares during the period. Financial Counselors Inc. lifted its position in Carrier Global by 5.3% in the 1st quarter. Financial Counselors Inc. now owns 8,196 shares of the company’s stock valued at $476,000 after purchasing an additional 409 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Carrier Global during the 1st quarter valued at about $308,000. Finally, Rehmann Capital Advisory Group bought a new position in Carrier Global in the 1st quarter worth about $256,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the topic of a number of recent analyst reports. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Barclays decreased their price target 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. Robert W. Baird reduced 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. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Price Performance

NYSE CARR opened at $72.40 on Tuesday. The stock has a market capitalization of $64.96 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.61 and a beta of 1.34. 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 business’s fifty day moving average is $76.90 and its two-hundred day moving average is $68.80. Carrier Global Co. has a 1 year low of $49.62 and a 1 year high of $83.32.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is 19.24%.

Carrier Global announced that its board has initiated a share buyback 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 usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

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.