Toronto Dominion Bank Purchases 35,550 Shares of Carrier Global Co. (NYSE:CARR)

Toronto Dominion Bank raised its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,988 shares of the company's stock after purchasing an additional 35,550 shares during the period. Toronto Dominion Bank's holdings in Carrier Global were worth $23,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC grew its holdings in shares of Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after buying an additional 137 shares in the last quarter. Essex Savings Bank grew its stake in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after buying an additional 144 shares during the last quarter. Boston Financial Mangement LLC increased its holdings in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock worth $741,000 after buying an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC lifted its stake in shares of Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company's stock valued at $257,000 after acquiring an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.7 %

Shares of CARR stock traded down $0.52 during mid-day trading on Friday, hitting $73.02. The company's stock had a trading volume of 2,927,649 shares, compared to its average volume of 4,192,215. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. 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 company's fifty day simple moving average is $76.67 and its 200-day simple moving average is $71.23. The company has a market cap of $65.52 billion, a PE ratio of 18.62, a P/E/G ratio of 2.73 and a beta of 1.33.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global's dividend payout ratio is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CARR. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday. They set a "buy" rating and a $96.00 price objective on the stock. Royal Bank of Canada lowered their price objective 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. Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an "equal weight" rating and a $75.00 target price on the stock. Oppenheimer upped 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. Finally, Bank of America raised their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

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.