Sheaff Brock Investment Advisors LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Sheaff Brock Investment Advisors LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,265 shares of the company's stock, valued at approximately $1,068,000.

Several other institutional investors and hedge funds have also modified their holdings of CARR. Olistico Wealth LLC purchased a new position in Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global in the second quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global in the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They set a "neutral" rating and a $83.00 price objective on the stock. Finally, Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $82.31.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.44 on Friday, hitting $74.53. The stock had a trading volume of 4,600,509 shares, compared to its average volume of 4,173,714. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. Carrier Global Co. has a twelve month low of $51.20 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 firm's 50 day moving average price is $77.73 and its 200-day moving average price is $69.78.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors 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 dividend on an annualized basis and a yield of 1.02%. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

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.