Bay Colony Advisory Group Inc d b a Bay Colony Advisors Invests $265,000 in Carrier Global Co. (NYSE:CARR)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,294 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares in the last quarter. Capital International Investors grew its stake in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the period. PineStone Asset Management Inc. grew its stake in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after buying an additional 72,633 shares during the period. 91.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $74.60 on Wednesday. The company has a market capitalization of $67.35 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 52-week low of $46.77 and a 52-week high of $83.32. The business has a 50-day simple moving average of $76.72 and a two-hundred day simple moving average of $68.28.

Carrier Global declared that its board has approved a stock buyback 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

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 1.02%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price for the company. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Mizuho raised their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $81.33.

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.