Carrier Global Co. (NYSE:CARR) Shares Bought by KCM Investment Advisors LLC

KCM Investment Advisors LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,363 shares of the company’s stock after acquiring an additional 297 shares during the quarter. KCM Investment Advisors LLC’s holdings in Carrier Global were worth $1,720,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FSM Wealth Advisors LLC lifted its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the last quarter. Essex Savings Bank increased its position in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the last quarter. Boston Financial Mangement LLC raised its stake in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares in the last quarter. Sittner & Nelson LLC lifted its holdings in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares during the last quarter. Finally, Marathon Capital Management boosted its position in shares of Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after acquiring an additional 156 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Down 0.6 %

Shares of NYSE:CARR opened at $74.53 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The firm has a fifty day moving average of $77.73 and a two-hundred day moving average of $69.78. The firm has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34.

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 is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Barclays cut their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday. Stephens reduced 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 research note on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.