Sheaff Brock Investment Advisors LLC Takes $1.07 Million Position in Carrier Global Co. (NYSE:CARR)

Sheaff Brock Investment Advisors LLC purchased a new position in Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,265 shares of the company’s stock, valued at approximately $1,068,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. bought a new stake in Carrier Global in the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of research reports. Oppenheimer raised their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Price Performance

Shares of CARR stock opened at $74.53 on Friday. The company’s 50-day simple moving average is $77.73 and its two-hundred day simple moving average is $69.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34.

Carrier Global Announces Dividend

The company 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 of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global declared that its board has approved a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign 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.