Raymond James Trust N.A. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Raymond James Trust N.A. increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,710 shares of the company’s stock after purchasing an additional 2,982 shares during the quarter. Raymond James Trust N.A.’s holdings in Carrier Global were worth $2,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARR. PineStone Asset Management Inc. grew its stake in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Carrier Global during the 2nd quarter worth $58,415,000. Mizuho Securities USA LLC boosted its position in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Carrier Global during the 1st quarter worth about $24,600,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CARR shares. Stephens lowered their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. 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 research report on Wednesday, November 13th. Wells Fargo & Company lowered their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Up 1.3 %

CARR opened at $77.00 on Friday. The business has a 50 day moving average price of $77.88 and a two-hundred day moving average price of $70.23. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a market cap of $69.09 billion, a PE ratio of 19.49, a P/E/G ratio of 2.67 and a beta of 1.34. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global declared that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.