HM Payson & Co. Acquires 314 Shares of Carrier Global Co. (NYSE:CARR)

HM Payson & Co. raised its holdings in Carrier Global Co. (NYSE:CARR) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,349 shares of the company’s stock after acquiring an additional 314 shares during the quarter. HM Payson & Co.’s holdings in Carrier Global were worth $7,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Carrier Global during the third quarter worth $201,000. Pinnacle Associates Ltd. raised its holdings in shares of Carrier Global by 3.9% during the third quarter. Pinnacle Associates Ltd. now owns 40,653 shares of the company’s stock worth $3,272,000 after acquiring an additional 1,534 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Carrier Global by 7.4% during the third quarter. First Trust Direct Indexing L.P. now owns 27,376 shares of the company’s stock worth $2,204,000 after acquiring an additional 1,893 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Carrier Global by 18.8% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,339 shares of the company’s stock valued at $671,000 after buying an additional 1,320 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in Carrier Global in the 3rd quarter valued at $14,046,000. 91.00% of the stock is owned by institutional investors.

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 directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Mizuho boosted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, 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 report on Friday, October 18th. 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Price Performance

Shares of CARR stock traded down $0.13 during trading hours on Thursday, reaching $73.47. The stock had a trading volume of 360,701 shares, compared to its average volume of 4,137,968. The stock’s fifty day simple moving average is $76.80 and its 200 day simple moving average is $68.32. 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 12 month low of $47.12 and a 12 month high of $83.32. The firm has a market capitalization of $66.33 billion, a PE ratio of 51.47, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global announced that its board has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits 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 management believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s payout ratio is presently 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.