Peapack Gladstone Financial Corp Has $14.25 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Peapack Gladstone Financial Corp lifted its position in Carrier Global Co. (NYSE:CARR) by 1.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 176,984 shares of the company’s stock after purchasing an additional 2,397 shares during the period. Peapack Gladstone Financial Corp’s holdings in Carrier Global were worth $14,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Carrier Global in the 3rd quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter worth $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE CARR opened at $73.02 on Friday. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.73 and a beta of 1.33. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a 50 day moving average of $76.52 and a 200-day moving average of $71.28.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.23%. Carrier Global’s payout ratio is presently 22.78%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CARR. Barclays raised their price target on shares of Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Finally, Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

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.