Meeder Advisory Services Inc. Has $1.75 Million Position in Carrier Global Co. (NYSE:CARR)

by · The Markets Daily

Meeder Advisory Services Inc. grew its stake in Carrier Global Co. (NYSE:CARR – Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,674 shares of the company’s stock after buying an additional 343 shares during the period. Meeder Advisory Services Inc.’s holdings in Carrier Global were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CARR. Olistico Wealth LLC bought a new stake in Carrier Global during the second quarter valued at $25,000. Meeder Asset Management Inc. boosted its position in shares of 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 purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Carrier Global during the second quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new stake in Carrier Global in the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Carrier Global by 246.0% in the third 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 period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on CARR shares. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Wells Fargo & Company cut their price objective on shares of 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. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Finally, Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Seven investment 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Check Out Our Latest Analysis on Carrier Global

Carrier Global Price Performance

Shares of NYSE:CARR opened at $74.05 on Tuesday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $66.44 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. The stock’s fifty day simple moving average is $77.79 and its two-hundred day simple moving average is $69.99.

Carrier Global declared that its board has approved a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

About Carrier Global

(Free Report)

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.

See Also

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