Signature Estate & Investment Advisors LLC Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Signature Estate & Investment Advisors LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,581 shares of the company’s stock after buying an additional 1,037 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Carrier Global were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC grew its stake in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Carrier Global in the 1st quarter worth approximately $2,019,000. Kintegral Advisory LLC grew its stake 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 worth $1,797,000 after buying an additional 8,705 shares during the last quarter. Rockport Wealth LLC purchased a new stake in shares of Carrier Global in the 1st quarter worth approximately $478,000. Finally, Foster Victor Wealth Advisors LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth approximately $7,720,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CARR shares. Royal Bank of Canada cut their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday. Finally, Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Price Performance

NYSE CARR opened at $74.53 on Friday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The business’s fifty day moving average price is $77.73 and its 200-day moving average price is $69.78. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global declared that its Board of Directors has approved a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board 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. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s dividend payout ratio is currently 19.24%.

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.