Carrier Global Co. (NYSE:CARR) Shares Bought by Brighton Jones LLC

Brighton Jones LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,108 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Brighton Jones LLC’s holdings in Carrier Global were worth $492,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Carrier Global in the second quarter valued at $32,000. Register Financial Advisors LLC acquired a new position in Carrier Global during the 1st quarter worth $34,000. Finally, Hantz Financial Services Inc. purchased a new stake in Carrier Global during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lowered their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America lifted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens downgraded shares of Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $75.00 to $85.00 in a research note on Wednesday, October 16th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.75.

Carrier Global Stock Up 1.4 %

Shares of NYSE:CARR opened at $73.72 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. The stock’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $67.87. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 24th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, research analysts forecast that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is owned by insiders.

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.