Virtu Financial LLC Trims Position in Carrier Global Co. (NYSE:CARR)

Virtu Financial LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 66.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,802 shares of the company’s stock after selling 13,236 shares during the period. Virtu Financial LLC’s holdings in Carrier Global were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. M&T Bank Corp raised its holdings in Carrier Global by 8.9% during the third quarter. M&T Bank Corp now owns 311,453 shares of the company’s stock worth $25,069,000 after purchasing an additional 25,346 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in Carrier Global by 5.1% during the third quarter. Soltis Investment Advisors LLC now owns 12,730 shares of the company’s stock worth $1,025,000 after purchasing an additional 615 shares in the last quarter. Toronto Dominion Bank raised its holdings in Carrier Global by 14.0% during the third quarter. Toronto Dominion Bank now owns 289,988 shares of the company’s stock worth $23,341,000 after purchasing an additional 35,550 shares in the last quarter. Wilson & Boucher Capital Management LLC raised its holdings in Carrier Global by 19.2% during the third quarter. Wilson & Boucher Capital Management LLC now owns 6,297 shares of the company’s stock worth $507,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in Carrier Global by 33.8% during the third quarter. Coldstream Capital Management Inc. now owns 11,635 shares of the company’s stock worth $927,000 after purchasing an additional 2,942 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CARR. Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Wells Fargo & Company decreased their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday. They set a “buy” rating and a $96.00 target price on the stock. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.50.

Carrier Global Stock Performance

Shares of CARR stock opened at $73.01 on Monday. The company’s fifty day simple moving average is $76.52 and its 200-day simple moving average is $71.38. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market cap of $65.51 billion, a PE ratio of 18.48, a P/E/G ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

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

Carrier Global declared that its Board of Directors has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.