Apollon Wealth Management LLC Has $1.81 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Apollon Wealth Management LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,515 shares of the company’s stock after buying an additional 1,238 shares during the quarter. Apollon Wealth Management LLC’s holdings in Carrier Global were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Atomi Financial Group Inc. acquired a new stake in shares of Carrier Global during the 1st quarter worth about $216,000. Sei Investments Co. raised its holdings in shares of Carrier Global by 0.6% in the first quarter. Sei Investments Co. now owns 238,181 shares of the company’s stock valued at $13,846,000 after purchasing an additional 1,519 shares during the last quarter. Entropy Technologies LP acquired a new position in Carrier Global during the first quarter worth $583,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Carrier Global by 8.0% in the first quarter. Kingsview Wealth Management LLC now owns 13,866 shares of the company’s stock valued at $806,000 after purchasing an additional 1,023 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

CARR opened at $76.35 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a fifty day moving average price of $77.36 and a 200 day moving average price of $69.61. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The stock has a market cap of $68.50 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.71 and a beta of 1.34.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CARR shares. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.31.

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.