Advisors Asset Management Inc. Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Advisors Asset Management Inc. lifted its holdings in Carrier Global Co. (NYSE:CARR) by 231.4% during the third quarter, Holdings Channel reports. The institutional investor owned 15,960 shares of the company’s stock after acquiring an additional 11,144 shares during the quarter. Advisors Asset Management Inc.’s holdings in Carrier Global were worth $1,285,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in Carrier Global during the 1st quarter valued at approximately $38,000. BOKF NA grew its stake in shares of Carrier Global by 4.8% in the first quarter. BOKF NA now owns 17,384 shares of the company’s stock worth $998,000 after acquiring an additional 804 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Carrier Global by 3.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock valued at $2,778,000 after acquiring an additional 1,761 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Carrier Global by 28.8% in the 1st quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock worth $17,114,000 after purchasing an additional 65,796 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Carrier Global by 203.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock worth $2,232,000 after purchasing an additional 27,100 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $78.86 on Tuesday. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The firm has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $77.92 and a 200 day moving average of $70.41.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its board has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Royal Bank of Canada lowered their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays cut their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.