Thrivent Financial for Lutherans Decreases Stake in Carrier Global Co. (NYSE:CARR)

Thrivent Financial for Lutherans cut its stake in Carrier Global Co. (NYSE:CARR) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,434 shares of the company’s stock after selling 13,159 shares during the period. Thrivent Financial for Lutherans’ holdings in Carrier Global were worth $3,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the second quarter worth about $25,000. McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the period. Coastline Trust Co purchased a new position in Carrier Global during the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. raised its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

Shares of CARR stock opened at $78.86 on Tuesday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The company has a market cap of $70.76 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34. 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 50 day simple moving average of $77.92 and a 200-day simple moving average of $70.41.

Carrier Global announced that its board has approved a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CARR shares. Royal Bank of Canada cut their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Barclays cut their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Finally, Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global 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.