Stephens Inc. AR Trims Stake in Carrier Global Co. (NYSE:CARR)

Stephens Inc. AR decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,384 shares of the company’s stock after selling 3,624 shares during the period. Stephens Inc. AR’s holdings in Carrier Global were worth $5,826,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Carrier Global during the first quarter worth about $2,019,000. Finally, Kintegral Advisory LLC boosted its stake in Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after buying an additional 8,705 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CARR shares. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Mizuho lifted their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given 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.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $72.59 on Friday. The firm has a market capitalization of $65.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32. Carrier Global Co. has a one year low of $49.62 and a one year high of $83.32. The stock’s 50 day moving average price is $76.89 and its 200 day moving average price is $68.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 dividend yield of 1.05%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global declared that its board has approved a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically 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.