MONECO Advisors LLC Acquires 375 Shares of Carrier Global Co. (NYSE:CARR)

MONECO Advisors LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,082 shares of the company’s stock after buying an additional 375 shares during the quarter. MONECO Advisors LLC’s holdings in Carrier Global were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.3 %

Shares of NYSE:CARR opened at $73.60 on Thursday. Carrier Global Co. has a 52-week low of $47.12 and a 52-week high of $83.32. The firm has a fifty day moving average of $76.80 and a 200 day moving average of $68.32. The firm has a market capitalization of $66.44 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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

Analyst Ratings Changes

A number of research firms recently commented on CARR. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Mizuho lifted their price target 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. Morgan Stanley began 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, Wells Fargo & Company lowered 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. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.33.

Insider Buying and Selling

In related 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.95% of the stock is owned by company 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.