Axxcess Wealth Management LLC Has $971,000 Holdings in Carrier Global Co. (NYSE:CARR)

Axxcess Wealth Management LLC lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 14.0% in the third quarter, HoldingsChannel.com reports. The firm owned 12,063 shares of the company’s stock after selling 1,971 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Carrier Global were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CARR. Frank Rimerman Advisors LLC grew its position in shares of Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Carrier Global during the 1st quarter worth approximately $2,019,000. Kintegral Advisory LLC grew its position in shares of 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 buying an additional 8,705 shares during the period. Finally, Rockport Wealth LLC acquired a new stake in shares of Carrier Global during the 1st quarter worth approximately $478,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America raised 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. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $75.40 on Wednesday. The stock has a market cap of $67.65 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a 1-year low of $50.67 and a 1-year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $77.26 and its two-hundred day simple moving average is $69.50.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

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

About Carrier Global

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.