Lifeworks Advisors LLC Cuts Stake in Carrier Global Co. (NYSE:CARR)

Lifeworks Advisors LLC reduced its position in Carrier Global Co. (NYSE:CARR - Free Report) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,846 shares of the company's stock after selling 13,321 shares during the period. Lifeworks Advisors LLC's holdings in Carrier Global were worth $2,161,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company's stock valued at $5,481,077,000 after purchasing an additional 466,829 shares during the last quarter. Capital International Investors increased its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company's stock valued at $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company's stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. raised its position in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock worth $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company's stock worth $280,010,000 after buying an additional 72,633 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price target on the stock. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research note on Wednesday. Finally, Bank of America boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.31.

Carrier Global Stock Down 1.9 %

CARR traded down $1.43 during trading hours on Thursday, hitting $74.97. 4,785,997 shares of the company's stock were exchanged, compared to its average volume of 4,171,777. The stock's 50-day moving average is $77.51 and its two-hundred day moving average is $69.66. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The stock has a market cap of $67.27 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.71 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global Announces Dividend

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

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

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.