Capital Management Corp VA Sells 9,937 Shares of Carrier Global Co. (NYSE:CARR)

Capital Management Corp VA cut its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 8.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,849 shares of the company's stock after selling 9,937 shares during the quarter. Capital Management Corp VA's holdings in Carrier Global were worth $8,198,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank lifted its position in shares of Carrier Global by 1.9% in the third quarter. Amalgamated Bank now owns 172,439 shares of the company's stock valued at $13,880,000 after buying an additional 3,196 shares during the last quarter. Sentry Investment Management LLC lifted its position in shares of Carrier Global by 11.2% in the third quarter. Sentry Investment Management LLC now owns 4,066 shares of the company's stock valued at $327,000 after buying an additional 410 shares during the last quarter. FSM Wealth Advisors LLC lifted its position in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock valued at $513,000 after buying an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Carrier Global by 58.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 6,273 shares of the company's stock worth $504,000 after purchasing an additional 2,315 shares during the period. Finally, PDS Planning Inc bought a new stake in Carrier Global in the 3rd quarter valued at $253,000. 91.00% of the stock is currently owned by institutional investors.

Insider Activity

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

Carrier Global Stock Performance

CARR traded up $1.50 during trading on Tuesday, hitting $73.90. The company's stock had a trading volume of 3,360,378 shares, compared to its average volume of 4,144,339. 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 Co. has a one year low of $49.62 and a one year high of $83.32. The firm has a market cap of $66.31 billion, a PE ratio of 18.71, a P/E/G ratio of 2.61 and a beta of 1.34. The business's 50 day simple moving average is $76.94 and its 200-day simple moving average is $68.94.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. Carrier Global's payout ratio is 19.24%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CARR shares. Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price target 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. JPMorgan Chase & Co. initiated coverage on Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective for the company. Finally, Wolfe Research raised Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $81.33.

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.