Carrier Global Co. (NYSE:CARR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Carrier Global Co. (NYSE:CARR - Free Report) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,833,396 shares of the company's stock after selling 1,947,581 shares during the quarter. JPMorgan Chase & Co. owned 3.21% of Carrier Global worth $2,320,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Blueprint LLC purchased a new position in Carrier Global in the 2nd quarter valued at approximately $201,000. Arkadios Wealth Advisors grew its stake in Carrier Global by 14.2% during the 2nd quarter. Arkadios Wealth Advisors now owns 12,040 shares of the company's stock worth $759,000 after purchasing an additional 1,498 shares in the last quarter. Modera Wealth Management LLC increased its holdings in Carrier Global by 3.9% during the 2nd quarter. Modera Wealth Management LLC now owns 21,756 shares of the company's stock worth $1,372,000 after purchasing an additional 809 shares during the period. Signaturefd LLC raised its position in Carrier Global by 20.7% in the 2nd quarter. Signaturefd LLC now owns 19,439 shares of the company's stock valued at $1,226,000 after purchasing an additional 3,338 shares in the last quarter. Finally, Key Financial Inc boosted its stake in shares of Carrier Global by 101.4% in the 2nd quarter. Key Financial Inc now owns 2,401 shares of the company's stock valued at $151,000 after buying an additional 1,209 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR stock traded down $0.74 on Friday, hitting $68.90. The company's stock had a trading volume of 2,811,827 shares, compared to its average volume of 4,254,767. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $61.82 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The firm has a 50 day moving average of $74.05 and a two-hundred day moving average of $71.71.

Carrier Global Increases Dividend

The firm also recently announced 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 an increase from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.31%. Carrier Global's dividend payout ratio is 22.78%.

Carrier Global declared that its board has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Finally, Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a "neutral" rating for the company. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $83.50.

About Carrier Global

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.