EP Wealth Advisors LLC boosted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 48.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,708 shares of the company's stock after purchasing an additional 7,119 shares during the quarter. EP Wealth Advisors LLC's holdings in Carrier Global were worth $1,747,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CARR. Frank Rimerman Advisors LLC grew its holdings in shares of Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company's stock worth $864,000 after purchasing an additional 13,677 shares during the last quarter. Kintegral Advisory LLC boosted its holdings in shares of Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company's stock valued at $1,797,000 after acquiring an additional 8,705 shares during the period. Foster Victor Wealth Advisors LLC purchased a new position in shares of Carrier Global during the second quarter worth approximately $7,720,000. Vista Investment Partners LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $744,000. Finally, Daiwa Securities Group Inc. raised its position in Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company's stock valued at $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.
Carrier Global Price Performance
CARR stock traded down $0.37 during trading on Tuesday, reaching $72.83. 4,644,338 shares of the company were exchanged, compared to its average volume of 4,203,210. 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 stock's 50 day moving average price is $77.07 and its 200 day moving average price is $71.14. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a market cap of $65.35 billion, a P/E ratio of 18.46, a PEG ratio of 2.73 and a beta of 1.33.
Carrier Global Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. Carrier Global's payout ratio is 19.24%.
Carrier Global announced that its board has approved a stock repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 target price on the stock. Eight 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.54.
Read Our Latest Stock Report on Carrier Global
Carrier Global Company Profile
(
Free Report)
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.
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