Fiduciary Trust Co Reduces Holdings in Carrier Global Co. (NYSE:CARR)

by · The Cerbat Gem

Fiduciary Trust Co cut its holdings in Carrier Global Co. (NYSE:CARR – Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,836 shares of the company’s stock after selling 1,946 shares during the quarter. Fiduciary Trust Co’s holdings in Carrier Global were worth $6,828,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC grew its holdings in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after buying an additional 13,677 shares during the last quarter. Kintegral Advisory LLC increased its position in Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after purchasing an additional 8,705 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $7,720,000. Vista Investment Partners LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $744,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock worth $17,114,000 after buying an additional 65,796 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Royal Bank of Canada lowered their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. 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. Finally, Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Get Our Latest Stock Analysis on Carrier Global

Carrier Global Trading Down 0.1 %

NYSE:CARR opened at $76.90 on Friday. The business’s 50-day moving average is $77.80 and its two-hundred day moving average is $70.58. The firm has a market capitalization of $69.00 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.34. Carrier Global Co. has a 12 month low of $51.20 and a 12 month 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.

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. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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

Carrier Global 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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