Captrust Financial Advisors Sells 2,872 Shares of Carrier Global Co. (NYSE:CARR)

Captrust Financial Advisors trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.0% in the third quarter, HoldingsChannel.com reports. The fund owned 92,276 shares of the company’s stock after selling 2,872 shares during the quarter. Captrust Financial Advisors’ holdings in Carrier Global were worth $7,427,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Frank Rimerman Advisors LLC grew its stake in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares in the last quarter. Kintegral Advisory LLC boosted its position in shares of Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after acquiring an additional 8,705 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new position in Carrier Global in the second quarter valued at approximately $7,720,000. Vista Investment Partners LLC acquired a new position in Carrier Global during the second quarter valued at approximately $744,000. Finally, Daiwa Securities Group Inc. lifted its stake in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.4 %

Shares of NYSE:CARR opened at $76.28 on Tuesday. The firm has a market cap of $68.44 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.86 and a beta of 1.34. Carrier Global Co. has a 12-month low of $52.28 and a 12-month high of $83.32. The business has a fifty day simple moving average of $77.75 and a 200 day simple moving average of $70.75. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its board has authorized a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently disclosed 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 dividend yield of 1.00%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Wells Fargo & Company lowered their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.