Pathway Financial Advisers LLC Has $4.74 Million Position in Carrier Global Co. (NYSE:CARR)

Pathway Financial Advisers LLC raised its holdings in Carrier Global Co. (NYSE:CARR) by 7,969.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,823 shares of the company’s stock after acquiring an additional 58,094 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $4,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CARR. Arkadios Wealth Advisors boosted its stake in Carrier Global by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after acquiring an additional 159 shares during the last quarter. Forsta AP Fonden raised its holdings in Carrier Global by 11.3% in the third quarter. Forsta AP Fonden now owns 172,800 shares of the company’s stock worth $13,909,000 after purchasing an additional 17,600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Carrier Global by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,318 shares of the company’s stock worth $5,420,000 after purchasing an additional 2,832 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $276,000. Finally, Highland Capital Management LLC increased its position in shares of Carrier Global by 1.5% in the 3rd quarter. Highland Capital Management LLC now owns 236,448 shares of the company’s stock valued at $19,032,000 after buying an additional 3,469 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’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 of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. 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 note on Friday. Barclays decreased their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company dropped 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 report on Friday. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.75.

Carrier Global Stock Up 1.4 %

Shares of NYSE:CARR traded up $1.01 during trading on Friday, hitting $73.72. 5,301,655 shares of the company were exchanged, compared to its average volume of 4,155,103. The stock has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. 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 fifty day moving average price of $76.46 and a two-hundred day moving average price of $67.87.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 53.15%.

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.