Financial Advocates Investment Management Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Financial Advocates Investment Management cut its holdings in Carrier Global Co. (NYSE:CARR) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,188 shares of the company’s stock after selling 187 shares during the period. Financial Advocates Investment Management’s holdings in Carrier Global were worth $2,269,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. grew its holdings in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Carrier Global during the second quarter worth $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global in the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. boosted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR opened at $72.72 on Friday. The firm has a market cap of $65.65 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $47.12 and a 52-week high of $83.32. The business’s 50 day moving average is $76.86 and its two-hundred day moving average is $68.35.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. Carrier Global’s payout ratio is 53.15%.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CARR shares. Wells Fargo & Company dropped 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. 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 objective for the company. JPMorgan Chase & Co. initiated coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Oppenheimer boosted 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. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.95% of the company’s stock.

Carrier Global Company 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.