Prudent Man Advisors LLC Invests $879,000 in Carrier Global Co. (NYSE:CARR)

Prudent Man Advisors LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,925 shares of the company's stock, valued at approximately $879,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company's stock valued at $864,000 after buying an additional 13,677 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Carrier Global in the 1st quarter valued at about $2,019,000. Kintegral Advisory LLC lifted its holdings in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company's stock valued at $1,797,000 after buying an additional 8,705 shares during the period. Rockport Wealth LLC purchased a new position in shares of Carrier Global in the 1st quarter valued at about $478,000. Finally, Foster Victor Wealth Advisors LLC purchased a new position in shares of Carrier Global in the 2nd quarter valued at about $7,720,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $0.48 on Monday, hitting $74.05. 4,797,886 shares of the company were exchanged, compared to its average volume of 4,176,516. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The stock has a market capitalization of $66.44 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. The company has a 50-day moving average price of $77.79 and a 200 day moving average price of $69.99. 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 declared that its board has approved a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global's dividend payout ratio is presently 19.24%.

Analysts Set New Price Targets

CARR has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price target for the company. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Wells Fargo & Company cut their price objective on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. Finally, Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $82.31.

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.