Northwest Bancshares Inc. Has $417,000 Stake in Carrier Global Co. (NYSE:CARR)

Northwest Bancshares Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,181 shares of the company’s stock after selling 153 shares during the period. Northwest Bancshares Inc.’s holdings in Carrier Global were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. FSM Wealth Advisors LLC lifted its stake in Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares in the last quarter. Essex Savings Bank raised its position in Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC lifted its stake in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares during the last quarter. Sittner & Nelson LLC grew its position in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares in the last quarter. Finally, Marathon Capital Management increased its stake in shares of Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.3 %

Shares of Carrier Global stock opened at $74.27 on Wednesday. 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 stock has a market capitalization of $66.64 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The company has a 50-day simple moving average of $77.84 and a 200 day simple moving average of $70.07.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CARR shares. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report 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. Royal Bank of Canada dropped their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seven have issued 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.