Meitav Investment House Ltd. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Meitav Investment House Ltd. lessened its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 44.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,285 shares of the company's stock after selling 249,005 shares during the period. Meitav Investment House Ltd.'s holdings in Carrier Global were worth $24,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company's stock valued at $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital International Investors increased its stake in Carrier Global by 4.6% in 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 during the last quarter. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company's stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. PineStone Asset Management Inc. grew its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company's stock valued at $280,010,000 after acquiring an additional 72,633 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Down 1.2 %

Shares of CARR stock traded down $0.88 during mid-day trading on Thursday, reaching $72.72. The stock had a trading volume of 3,782,636 shares, compared to its average volume of 4,155,222. The stock's 50-day moving average price is $76.80 and its two-hundred day moving average price is $68.32. Carrier Global Co. has a 52-week low of $47.12 and a 52-week high of $83.32. The firm has a market capitalization of $65.65 billion, a PE ratio of 51.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global's payout ratio is 53.15%.

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

Analyst Ratings Changes

CARR has been the subject of a number of research reports. Baird R W raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 15th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Carrier Global from $91.00 to $87.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $81.33.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company's stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.95% of the company's stock.

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.