Harbour Investment Management LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Harbour Investment Management LLC acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,040 shares of the company’s stock, valued at approximately $245,000.

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

Carrier Global Trading Down 0.2 %

NYSE:CARR traded down $0.13 on Friday, reaching $72.59. The company’s stock had a trading volume of 3,525,001 shares, compared to its average volume of 4,152,405. Carrier Global Co. has a 12-month low of $49.62 and a 12-month high of $83.32. The stock has a 50 day moving average price of $76.89 and a 200 day moving average price of $68.56. The firm has a market cap of $65.13 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32. 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 Announces Dividend

The business 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. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.05%. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CARR shares. Stephens decreased their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their target price 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, Oppenheimer lifted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by insiders.

Carrier Global 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.