Carrier Global Co. (NYSE:CARR) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,798 shares of the company’s stock after selling 172 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Carrier Global were worth $6,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after buying an additional 269,538 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings 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 acquiring an additional 3,741,206 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Carrier Global by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock worth $381,877,000 after acquiring an additional 49,196 shares during the period. Victory Capital Management Inc. increased its stake in shares of Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carrier Global by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after purchasing an additional 147,835 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.3 %

CARR stock opened at $77.00 on Monday. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. 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 firm has a 50-day simple moving average of $77.88 and a 200-day simple moving average of $70.32. The stock has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.73 and a beta of 1.34.

Carrier Global announced that its Board of Directors has approved a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase 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 company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued 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 dividend yield of 0.99%. Carrier Global’s payout ratio is currently 19.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Barclays reduced their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada dropped 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. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global 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.