Farmers & Merchants Investments Inc. Has $2.37 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Farmers & Merchants Investments Inc. cut its stake in Carrier Global Co. (NYSE:CARR) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,498 shares of the company’s stock after selling 983 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Carrier Global were worth $2,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth $25,000. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the period. Meeder Asset Management Inc. raised its position in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Country Trust Bank acquired a new position in shares of Carrier Global in the 3rd quarter valued at about $40,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent analyst reports. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Barclays decreased their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Seven investment 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 company. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $81.33.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by insiders.

Carrier Global Trading Down 1.4 %

Shares of CARR stock opened at $74.60 on Wednesday. Carrier Global Co. has a 12-month low of $46.77 and a 12-month high of $83.32. 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 company has a 50 day moving average of $76.72 and a 200-day moving average of $68.28. The firm has a market cap of $67.35 billion, a P/E ratio of 52.17, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. Carrier Global’s payout ratio is 53.15%.

Carrier Global declared that its board has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.