Bank of Montreal Can Has $68.54 Million Position in Carrier Global Co. (NYSE:CARR)

Bank of Montreal Can lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 851,201 shares of the company’s stock after acquiring an additional 13,714 shares during the period. Bank of Montreal Can’s holdings in Carrier Global were worth $68,539,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA lifted its position in shares of Carrier Global by 23.4% during the 3rd quarter. Private Trust Co. NA now owns 11,004 shares of the company’s stock valued at $886,000 after acquiring an additional 2,086 shares during the period. Truvestments Capital LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at $78,000. Boston Family Office LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at $225,000. DRW Securities LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at $748,000. Finally, Concentric Wealth Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at $213,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Mizuho boosted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird decreased their price target 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. Finally, Barclays decreased their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

NYSE CARR opened at $76.89 on Thursday. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. 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 cap of $68.99 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34. The company has a fifty day moving average price of $77.87 and a 200-day moving average price of $70.54.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About Carrier Global

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.