Wilmington Savings Fund Society FSB Buys 25,594 Shares of Carrier Global Co. (NYSE:CARR)

Wilmington Savings Fund Society FSB raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 280.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,717 shares of the company’s stock after buying an additional 25,594 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Carrier Global were worth $2,794,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC lifted its stake in shares of Carrier Global by 0.3% in the third quarter. Sanctuary Advisors LLC now owns 70,379 shares of the company’s stock worth $5,419,000 after buying an additional 237 shares in the last quarter. Anchor Investment Management LLC lifted its position in Carrier Global by 6.6% in the 3rd quarter. Anchor Investment Management LLC now owns 5,745 shares of the company’s stock valued at $462,000 after acquiring an additional 355 shares in the last quarter. M&T Bank Corp boosted its stake in Carrier Global by 8.9% during the 3rd quarter. M&T Bank Corp now owns 311,453 shares of the company’s stock valued at $25,069,000 after purchasing an additional 25,346 shares during the last quarter. Soltis Investment Advisors LLC increased its holdings in shares of Carrier Global by 5.1% in the 3rd quarter. Soltis Investment Advisors LLC now owns 12,730 shares of the company’s stock worth $1,025,000 after purchasing an additional 615 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Carrier Global by 14.0% in the third quarter. Toronto Dominion Bank now owns 289,988 shares of the company’s stock worth $23,341,000 after purchasing an additional 35,550 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $73.02 on Friday. 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 stock has a 50-day simple moving average of $76.52 and a two-hundred day simple moving average of $71.28. The firm has a market capitalization of $65.52 billion, a PE ratio of 18.49, a P/E/G ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32.

Carrier Global announced that its board has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

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

Wall Street Analysts Forecast Growth

CARR has been the subject of several research analyst reports. 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. Wells Fargo & Company reduced their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Mizuho raised their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Carrier Global 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.