Carrier Global Co. (NYSE:CARR) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC trimmed its stake in Carrier Global Co. (NYSE:CARR) by 7.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,670 shares of the company’s stock after selling 1,624 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Carrier Global were worth $1,664,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. FSM Wealth Advisors LLC grew 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. Meridian Wealth Management LLC grew its holdings in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the last quarter. Essex Savings Bank grew its holdings 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 worth $532,000 after acquiring an additional 144 shares during the last quarter. Boston Financial Mangement LLC grew its holdings in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC grew its holdings in shares of Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CARR. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $82.54.

Carrier Global Price Performance

CARR opened at $73.67 on Friday. The stock has a market cap of $66.10 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.79 and a beta of 1.33. Carrier Global Co. has a 1 year low of $52.54 and a 1 year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $77.22 and a 200 day moving average price of $71.04.

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

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 19.24%.

About Carrier Global

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.