Carrier Global Co. (NYSE:CARR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 39.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,821 shares of the company’s stock after acquiring an additional 38,365 shares during the period. Cerity Partners LLC’s holdings in Carrier Global were worth $11,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. increased its position in Carrier Global by 1.6% during the third quarter. Great Valley Advisor Group Inc. now owns 9,437 shares of the company’s stock worth $759,000 after buying an additional 150 shares in the last quarter. Camden National Bank purchased a new stake in Carrier Global during the 3rd quarter worth about $210,000. Nwam LLC acquired a new position in Carrier Global in the 3rd quarter valued at about $274,000. Meridian Wealth Management LLC raised its stake in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Carrier Global by 9.1% during the 3rd quarter. Raymond James Trust N.A. now owns 35,710 shares of the company’s stock worth $2,874,000 after purchasing an additional 2,982 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 2.5 %

NYSE:CARR opened at $76.91 on Wednesday. The business’s 50-day moving average is $77.90 and its two-hundred day moving average is $70.49. The firm has a market capitalization of $69.01 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.77 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 company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho upped their price objective 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. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company reduced their target price on 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. Finally, Barclays lowered their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global 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.