Hilltop Holdings Inc. Acquires 4,493 Shares of Carrier Global Co. (NYSE:CARR)

Hilltop Holdings Inc. lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 81.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,006 shares of the company’s stock after acquiring an additional 4,493 shares during the quarter. Hilltop Holdings Inc.’s holdings in Carrier Global were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garden State Investment Advisory Services LLC raised its holdings in Carrier Global by 2.8% in the third quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company’s stock worth $480,000 after purchasing an additional 161 shares in the last quarter. Cinctive Capital Management LP bought a new position in Carrier Global in the third quarter worth $1,680,000. Concentric Capital Strategies LP raised its holdings in Carrier Global by 6.0% in the third quarter. Concentric Capital Strategies LP now owns 61,834 shares of the company’s stock worth $4,977,000 after purchasing an additional 3,495 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Carrier Global by 1,111.5% in the third quarter. Benjamin Edwards Inc. now owns 67,588 shares of the company’s stock worth $5,440,000 after purchasing an additional 62,009 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Carrier Global in the third quarter worth $28,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CARR. Morgan Stanley initiated coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Royal Bank of Canada cut their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. 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 research note on Friday, October 25th. Finally, JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Down 0.3 %

Carrier Global stock opened at $75.37 on Thursday. The stock has a market capitalization of $67.62 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33. 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 business’s fifty day moving average is $77.47 and its 200 day moving average is $70.93. Carrier Global Co. has a one year low of $52.44 and a one year high of $83.32.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board 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.