Heritage Investors Management Corp Decreases Holdings in Carrier Global Co. (NYSE:CARR)

by · The Markets Daily

Heritage Investors Management Corp cut its holdings in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,850 shares of the company’s stock after selling 590 shares during the quarter. Heritage Investors Management Corp’s holdings in Carrier Global were worth $3,851,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FSM Wealth Advisors LLC increased its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the period. Boston Financial Mangement LLC increased its stake in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares during the period. Marathon Capital Management increased its stake in shares of Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after buying an additional 156 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Carrier Global by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after buying an additional 159 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after buying an additional 162 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $73.90 on Wednesday. Carrier Global Co. has a one year low of $49.62 and a one year high of $83.32. The company’s 50-day moving average is $76.94 and its 200 day moving average is $68.94. The company has a market capitalization of $66.31 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Dividend Announcement

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 given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CARR has been the topic of several analyst reports. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company cut their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada cut their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.33.

Read Our Latest Stock Report on Carrier Global

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

Carrier Global Company Profile

(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.

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