Carrier Global Co. (NYSE:CARR) Position Trimmed by Independent Advisor Alliance

Independent Advisor Alliance trimmed its stake in Carrier Global Co. (NYSE:CARR) by 17.7% in the third quarter, Holdings Channel.com reports. The firm owned 6,189 shares of the company’s stock after selling 1,330 shares during the quarter. Independent Advisor Alliance’s holdings in Carrier Global were worth $498,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FSM Wealth Advisors LLC increased its position in Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares during the last quarter. Essex Savings Bank increased its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares during the last quarter. Boston Financial Mangement LLC raised its position in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC lifted its stake in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.1 %

NYSE CARR opened at $76.90 on Friday. Carrier Global Co. has a 1-year low of $51.20 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 50 day moving average is $77.80 and its two-hundred day moving average is $70.58. The company has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34.

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

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CARR. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. Oppenheimer lifted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Barclays dropped their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.31.

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.