Olstein Capital Management L.P. Sells 33,000 Shares of Carrier Global Co. (NYSE:CARR)

Olstein Capital Management L.P. cut its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 71.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,000 shares of the company's stock after selling 33,000 shares during the quarter. Olstein Capital Management L.P.'s holdings in Carrier Global were worth $1,046,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new position in Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. raised its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global during the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CARR shares. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 target price for the company. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an "equal weight" rating and a $75.00 target price for the company. Oppenheimer lifted their price target 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. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Finally, Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Seven 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.33.

Carrier Global Stock Performance

NYSE:CARR traded down $0.25 during mid-day trading on Thursday, hitting $75.13. The stock had a trading volume of 4,120,671 shares, compared to its average volume of 4,158,381. Carrier Global Co. has a twelve month low of $50.31 and a twelve month high of $83.32. 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 has a market cap of $67.41 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.60 and a beta of 1.34. The company's 50 day simple moving average is $77.03 and its 200 day simple moving average is $68.99.

Carrier Global Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. Carrier Global's dividend payout ratio is currently 19.24%.

Carrier Global announced that its board has initiated a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is 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.