PBMares Wealth Management LLC Has $243,000 Position in Carrier Global Co. (NYSE:CARR)

PBMares Wealth Management LLC cut its holdings in Carrier Global Co. (NYSE:CARR) by 10.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,014 shares of the company’s stock after selling 361 shares during the period. PBMares Wealth Management LLC’s holdings in Carrier Global were worth $243,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CARR shares. Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. 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. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Price Performance

CARR stock traded down $0.74 during mid-day trading on Tuesday, reaching $74.92. 699,003 shares of the company traded hands, compared to its average volume of 4,141,329. Carrier Global Co. has a 52-week low of $46.77 and a 52-week high of $83.32. The company has a market capitalization of $67.63 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company has a fifty day moving average price of $76.60 and a 200-day moving average price of $68.15.

Carrier Global announced that its board has approved a share buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 53.15%.

About Carrier Global

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.