Hartford Financial Management Inc. Has $1.80 Million Position in Carrier Global Co. (NYSE:CARR)

Hartford Financial Management Inc. cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,368 shares of the company’s stock after selling 198 shares during the period. Hartford Financial Management Inc.’s holdings in Carrier Global were worth $1,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Financial Mangement LLC raised its stake 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 valued at $741,000 after buying an additional 150 shares in the last quarter. Marathon Capital Management grew its holdings in shares of Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Carrier Global by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after acquiring an additional 159 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Carrier Global by 2.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock valued at $465,000 after purchasing an additional 163 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.

Carrier Global Stock Performance

Shares of CARR stock opened at $72.72 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $65.25 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32. The company’s 50 day moving average price is $76.86 and its two-hundred day moving average price is $68.35. Carrier Global Co. has a 52 week low of $47.12 and a 52 week high of $83.32.

Carrier Global announced that its board has initiated a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada cut their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Stephens cut their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.33.

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.