Carrier Global Co. (NYSE:CARR) Holdings Decreased by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,158,262 shares of the company’s stock after selling 44,970 shares during the quarter. HighTower Advisors LLC owned 0.13% of Carrier Global worth $93,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CARR. Hilltop Holdings Inc. boosted its position in Carrier Global by 81.5% during the third quarter. Hilltop Holdings Inc. now owns 10,006 shares of the company’s stock valued at $805,000 after purchasing an additional 4,493 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its position in Carrier Global by 2.8% during the third quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company’s stock valued at $480,000 after purchasing an additional 161 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in Carrier Global during the third quarter valued at $1,680,000. Concentric Capital Strategies LP boosted its position in Carrier Global by 6.0% during the third quarter. Concentric Capital Strategies LP now owns 61,834 shares of the company’s stock valued at $4,977,000 after purchasing an additional 3,495 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Carrier Global by 1,111.5% during the third quarter. Benjamin Edwards Inc. now owns 67,588 shares of the company’s stock valued at $5,440,000 after purchasing an additional 62,009 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CARR shares. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Wells Fargo & Company reduced their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, 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. Eight equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Down 0.9 %

Shares of CARR opened at $75.58 on Wednesday. The firm has a market capitalization of $67.81 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The business’s fifty day moving average price is $77.56 and its two-hundred day moving average price is $70.90. Carrier Global Co. has a 52 week low of $52.28 and a 52 week high of $83.32.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its board has initiated a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.