Carrier Global Co. (NYSE:CARR) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,725 shares of the company's stock after selling 7,335 shares during the period. Cumberland Partners Ltd's holdings in Carrier Global were worth $6,739,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Olistico Wealth LLC bought a new stake in Carrier Global in the second quarter worth about $25,000. Meeder Asset Management Inc. raised its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Carrier Global in the second quarter worth $32,000. Hantz Financial Services Inc. purchased a new position in Carrier Global during the second quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CARR. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Stephens decreased their target price on 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. Barclays cut their price objective 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. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $81.33.

Carrier Global Price Performance

NYSE:CARR traded down $0.89 during trading hours on Tuesday, reaching $75.40. 4,500,487 shares of the company traded hands, compared to its average volume of 4,152,367. The stock has a market cap of $67.65 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. The firm's 50-day moving average is $77.26 and its 200-day moving average is $69.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1-year low of $50.67 and a 1-year high of $83.32.

Carrier Global Announces Dividend

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

Carrier Global declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Carrier Global 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.