TCI Wealth Advisors Inc. Takes $206,000 Position in Carrier Global Co. (NYSE:CARR)

TCI Wealth Advisors Inc. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, Holdings Channel.com reports. The institutional investor bought 2,564 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Carrier Global during the 1st quarter valued at about $2,019,000. Finally, Kintegral Advisory LLC lifted its holdings in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after buying an additional 8,705 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity

In related 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 transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CARR. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Up 2.6 %

CARR opened at $75.67 on Tuesday. The company has a market cap of $68.18 billion, a PE ratio of 52.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a twelve month low of $46.77 and a twelve month high of $83.32. The company has a 50-day moving average price of $76.60 and a 200 day moving average price of $68.15. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global declared that its board has authorized a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. Carrier Global’s payout ratio is currently 53.15%.

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.