Lifeworks Advisors LLC Sells 13,321 Shares of Carrier Global Co. (NYSE:CARR)

Lifeworks Advisors LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 33.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,846 shares of the company’s stock after selling 13,321 shares during the period. Lifeworks Advisors LLC’s holdings in Carrier Global were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after acquiring an additional 130,192 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Carrier Global in the 1st quarter valued at about $2,019,000. Kintegral Advisory LLC lifted its holdings in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after acquiring an additional 8,705 shares during the last quarter. Finally, Rockport Wealth LLC bought a new position in shares of Carrier Global in the 1st quarter valued at about $478,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CARR. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays reduced their price objective 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. Seven equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

NYSE:CARR traded down $0.27 during mid-day trading on Thursday, hitting $76.13. The company’s stock had a trading volume of 921,293 shares, compared to its average volume of 4,153,432. Carrier Global Co. has a 1 year low of $51.20 and a 1 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 cap of $68.31 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.71 and a beta of 1.34. The business’s fifty day moving average is $77.51 and its two-hundred day moving average is $69.66.

Carrier Global Dividend Announcement

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

Carrier Global announced that its board has initiated a stock 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 purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.