Prime Capital Investment Advisors LLC Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

Prime Capital Investment Advisors LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.4% in the third quarter, Holdings Channel reports. The institutional investor owned 13,669 shares of the company’s stock after selling 779 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Carrier Global were worth $1,100,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Olistico Wealth LLC bought a new position in shares of Carrier Global during the second quarter valued at $25,000. McClarren Financial Advisors Inc. grew its position in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Country Trust Bank purchased a new position in Carrier Global in the third quarter worth about $40,000. Finally, EdgeRock Capital LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 1.9 %

Shares of CARR stock opened at $74.97 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $67.27 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.71 and a beta of 1.34. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The firm has a fifty day moving average price of $77.51 and a 200-day moving average price of $69.66.

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

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Bank of America boosted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $82.31.

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.