Crestwood Advisors Group LLC Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Crestwood Advisors Group LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,777 shares of the company’s stock after purchasing an additional 341 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Carrier Global were worth $1,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FSM Wealth Advisors LLC lifted its position in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Boston Financial Mangement LLC raised its holdings in shares of 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 acquiring an additional 150 shares in the last quarter. Marathon Capital Management raised its holdings in shares of Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Carrier Global by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock valued at $982,000 after acquiring an additional 159 shares in the last quarter. Finally, Savant Capital LLC raised its holdings in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after acquiring an additional 162 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CARR. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Mizuho lifted their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Price Performance

Shares of CARR stock opened at $73.90 on Wednesday. Carrier Global Co. has a fifty-two week low of $49.62 and a fifty-two week high of $83.32. The firm has a market capitalization of $66.31 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.61 and a beta of 1.34. 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 stock’s 50-day simple moving average is $76.94 and its 200-day simple moving average is $68.94.

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

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s payout ratio is 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.