HighTower Advisors LLC Sells 44,970 Shares of Carrier Global Co. (NYSE:CARR)

HighTower Advisors LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,158,262 shares of the company's stock after selling 44,970 shares during the quarter. HighTower Advisors LLC owned approximately 0.13% of Carrier Global worth $93,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CARR. FSA Wealth Management LLC bought a new position in Carrier Global during the third quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its position in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global during the second quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 246.0% in 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 period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $0.21 during midday trading on Wednesday, hitting $75.37. 2,771,631 shares of the stock traded hands, compared to its average volume of 4,208,451. The firm has a 50-day moving average of $77.47 and a two-hundred day moving average of $70.93. The firm has a market capitalization of $67.62 billion, a P/E ratio of 19.08, a PEG ratio of 2.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a one year low of $52.44 and a one year high of $83.32.

Carrier Global declared that its Board of Directors has authorized a share buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. Carrier Global's payout ratio is presently 19.24%.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" 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 report on Friday, September 6th. Stephens reduced 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 report on Monday, October 28th. Finally, Oppenheimer lifted their price target 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. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.