Carmel Capital Partners LLC Acquires New Holdings in Carrier Global Co. (NYSE:CARR)

Carmel Capital Partners LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the third quarter, HoldingsChannel.com reports. The fund purchased 15,225 shares of the company’s stock, valued at approximately $1,225,000.

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

Carrier Global Stock Up 2.1 %

Shares of NYSE:CARR opened at $76.71 on Friday. The company has a market capitalization of $68.83 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.60 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a fifty day moving average price of $77.11 and a two-hundred day moving average price of $69.03. Carrier Global Co. has a 1 year low of $50.31 and a 1 year high of $83.32.

Carrier Global Announces Dividend

The company also recently declared 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 0.99%. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global announced that its board has authorized a stock 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 reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of recent research reports. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.33.

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.