Howe & Rusling Inc. Sells 1,000 Shares of Carrier Global Co. (NYSE:CARR)

Howe & Rusling Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 27.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,602 shares of the company’s stock after selling 1,000 shares during the quarter. Howe & Rusling Inc.’s holdings in Carrier Global were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Hilton Capital Management LLC boosted its holdings in shares of Carrier Global by 1.3% in the third quarter. Hilton Capital Management LLC now owns 93,749 shares of the company’s stock valued at $7,546,000 after purchasing an additional 1,199 shares during the period. Commerce Bank lifted its holdings in shares of Carrier Global by 3.6% in the 3rd quarter. Commerce Bank now owns 147,710 shares of the company’s stock worth $11,889,000 after buying an additional 5,087 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Carrier Global during the 3rd quarter worth $19,900,000. Prospera Private Wealth LLC purchased a new position in shares of Carrier Global during the third quarter valued at $439,000. Finally, West Family Investments Inc. bought a new stake in shares of Carrier Global in the third quarter valued at about $285,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $74.50 on Thursday. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $66.84 billion, a PE ratio of 18.86, a P/E/G ratio of 2.68 and a beta of 1.34. The business has a 50-day simple moving average of $77.86 and a two-hundred day simple moving average of $70.10.

Carrier Global declared that its board has initiated a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CARR shares. Oppenheimer increased their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Mizuho boosted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Finally, Robert W. Baird reduced their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target 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.