Carrier Global Co. (NYSE:CARR) Shares Sold by Endowment Wealth Management Inc.

Endowment Wealth Management Inc. cut its stake in Carrier Global Co. (NYSE:CARR) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,976 shares of the company’s stock after selling 191 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Carrier Global were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CARR. Atomi Financial Group Inc. acquired a new stake in shares of Carrier Global in the 1st quarter worth $216,000. Sei Investments Co. grew its holdings in shares of Carrier Global by 0.6% during the 1st quarter. Sei Investments Co. now owns 238,181 shares of the company’s stock worth $13,846,000 after purchasing an additional 1,519 shares during the period. Entropy Technologies LP purchased a new position in shares of Carrier Global during the 1st quarter worth $583,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Carrier Global by 8.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 13,866 shares of the company’s stock worth $806,000 after purchasing an additional 1,023 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR stock opened at $76.35 on Thursday. 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 firm has a market capitalization of $68.50 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.71 and a beta of 1.34. The business’s 50-day moving average is $77.51 and its two-hundred day moving average is $69.66. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm 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. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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 report on Wednesday. Wells Fargo & Company lowered their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

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.