Dakota Wealth Management Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Dakota Wealth Management lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 34.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,757 shares of the company’s stock after selling 9,911 shares during the period. Dakota Wealth Management’s holdings in Carrier Global were worth $1,510,000 as of its most recent SEC filing.

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

Carrier Global Stock Performance

Shares of CARR stock opened at $73.72 on Friday. The company’s fifty day simple moving average is $76.46 and its 200-day simple moving average is $67.94. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $83.32. The company has a market cap of $66.42 billion, a PE ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.61 billion. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global announced that its board has initiated a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

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

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CARR. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays dropped 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 note on Friday. Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Stephens lowered shares of Carrier Global from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, 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 research note on Friday. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.75.

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.