Massachusetts Wealth Management Buys 1,175 Shares of Carrier Global Co. (NYSE:CARR)

Massachusetts Wealth Management raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,550 shares of the company’s stock after acquiring an additional 1,175 shares during the quarter. Massachusetts Wealth Management’s holdings in Carrier Global were worth $1,413,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter valued at about $25,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the last quarter. Meeder Asset Management Inc. increased its position in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. Country Trust Bank acquired a new stake in Carrier Global in the third quarter worth about $40,000. Finally, EdgeRock Capital LLC acquired a new stake in Carrier Global in the second quarter worth about $32,000. 91.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other Carrier Global 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 sale, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research reports. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. 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 target price for the company. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.17.

Carrier Global Stock Up 0.6 %

Shares of CARR traded up $0.44 on Friday, hitting $73.15. The company’s stock had a trading volume of 1,423,227 shares, compared to its average volume of 4,135,366. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average price is $76.33 and its 200-day moving average price is $67.76. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The firm has a market capitalization of $65.91 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.61 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. On average, equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

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.