Olstein Capital Management L.P. Sells 33,000 Shares of Carrier Global Co. (NYSE:CARR)

Olstein Capital Management L.P. lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 71.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,000 shares of the company’s stock after selling 33,000 shares during the period. Olstein Capital Management L.P.’s holdings in Carrier Global were worth $1,046,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FSM Wealth Advisors LLC lifted its holdings in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the period. Boston Financial Mangement LLC lifted its stake in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the period. Marathon Capital Management boosted its holdings in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares during the last quarter. Arkadios Wealth Advisors increased its position in Carrier Global by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock valued at $982,000 after purchasing an additional 159 shares during the period. Finally, Savant Capital LLC raised its holdings in Carrier Global by 0.5% during the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CARR shares. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Up 0.9 %

NYSE:CARR traded up $0.65 during trading hours on Thursday, hitting $76.03. 118,646 shares of the company traded hands, compared to its average volume of 4,139,796. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a market cap of $68.22 billion, a PE ratio of 19.08, a PEG ratio of 2.61 and a beta of 1.34. The firm’s 50-day simple moving average is $76.94 and its 200-day simple moving average is $68.94. Carrier Global Co. has a one year low of $50.31 and a one year high of $83.32.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are 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.