Garden State Investment Advisory Services LLC Raises Holdings in Carrier Global Co. (NYSE:CARR)

Garden State Investment Advisory Services LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,950 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Carrier Global were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. FSM Wealth Advisors LLC increased its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC increased its position in shares of Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after acquiring an additional 137 shares during the period. Essex Savings Bank raised its stake in shares of 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 during the last quarter. Boston Financial Mangement LLC boosted its holdings in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after purchasing an additional 150 shares during the period. Finally, Sittner & Nelson LLC grew its stake in shares of 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 purchasing an additional 150 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of several research analyst reports. Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Up 0.6 %

CARR stock opened at $77.37 on Monday. 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 business has a 50 day moving average of $77.75 and a 200 day moving average of $70.75. Carrier Global Co. has a twelve month low of $52.28 and a twelve month high of $83.32. The firm has a market cap of $69.42 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.86 and a beta of 1.34.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.