Stock Yards Bank & Trust Co. Has $431,000 Stake in Carrier Global Co. (NYSE:CARR)

Stock Yards Bank & Trust Co. reduced its holdings in Carrier Global Co. (NYSE:CARR) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,356 shares of the company’s stock after selling 997 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Carrier Global were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new position in Carrier Global during the 3rd quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. bought a new stake in shares of Carrier Global in the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday. They issued a “buy” rating and a $96.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Carrier Global Trading Down 0.7 %

Shares of NYSE:CARR opened at $73.02 on Friday. The company’s 50-day moving average price is $76.52 and its two-hundred day moving average price is $71.28. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. 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 stock has a market capitalization of $65.52 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

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.