Evermay Wealth Management LLC Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Evermay Wealth Management LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,790 shares of the company’s stock after selling 155 shares during the quarter. Evermay Wealth Management LLC’s holdings in Carrier Global were worth $144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Norden Group LLC purchased a new position in shares of Carrier Global in the 1st quarter worth $3,982,000. First Trust Direct Indexing L.P. raised its holdings in shares of Carrier Global by 17.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 21,456 shares of the company’s stock worth $1,247,000 after purchasing an additional 3,121 shares during the period. Everett Harris & Co. CA lifted its stake in shares of Carrier Global by 25.9% in the 1st quarter. Everett Harris & Co. CA now owns 12,538 shares of the company’s stock valued at $729,000 after purchasing an additional 2,583 shares in the last quarter. FORVIS Wealth Advisors LLC grew its holdings in shares of Carrier Global by 105.5% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 36,124 shares of the company’s stock worth $2,100,000 after purchasing an additional 18,548 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Carrier Global by 24.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 14,732 shares of the company’s stock worth $855,000 after purchasing an additional 2,870 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $73.60 on Thursday. Carrier Global Co. has a 52-week low of $47.12 and a 52-week 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 firm has a market cap of $66.44 billion, a price-to-earnings ratio of 51.47, a PEG ratio of 2.94 and a beta of 1.32. The business’s 50 day moving average is $76.80 and its two-hundred day moving average is $68.32.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Carrier Global announced that its Board of Directors has authorized a share buyback 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 generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays cut their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company reduced 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, October 25th. Royal Bank of Canada lowered their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, 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. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.33.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

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.