Boston Family Office LLC Purchases Shares of 2,800 Carrier Global Co. (NYSE:CARR)

Boston Family Office LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,800 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. EntryPoint Capital LLC bought a new stake in shares of Carrier Global in the first quarter valued at about $38,000. BOKF NA increased its position in shares of Carrier Global by 4.8% during the first quarter. BOKF NA now owns 17,384 shares of the company’s stock valued at $998,000 after purchasing an additional 804 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Carrier Global by 3.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock valued at $2,778,000 after purchasing an additional 1,761 shares in the last quarter. Janus Henderson Group PLC lifted its position in Carrier Global by 28.8% in the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock worth $17,114,000 after purchasing an additional 65,796 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its position in Carrier Global by 203.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock worth $2,232,000 after purchasing an additional 27,100 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

NYSE:CARR opened at $78.86 on Tuesday. The firm has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 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 business’s 50-day moving average price is $77.92 and its two-hundred day moving average price is $70.41. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is presently 19.24%.

Carrier Global announced that its Board of Directors has approved a stock 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 buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Stephens reduced their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Finally, Barclays reduced their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently 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.