Victory Capital Management Inc. Decreases Holdings in Carrier Global Co. (NYSE:CARR)

Victory Capital Management Inc. decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,097,926 shares of the company’s stock after selling 341,033 shares during the period. Victory Capital Management Inc. owned about 0.46% of Carrier Global worth $329,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CARR. Olistico Wealth LLC bought a new position in Carrier Global during the 2nd quarter worth $25,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the period. Country Trust Bank bought a new stake in Carrier Global in the 3rd quarter valued at about $40,000. Finally, EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter valued at about $32,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 0.9 %

NYSE CARR traded down $0.69 during trading on Tuesday, reaching $75.60. 817,459 shares of the company’s stock were exchanged, compared to its average volume of 4,135,563. Carrier Global Co. has a fifty-two week low of $50.67 and a fifty-two week 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 firm has a market capitalization of $67.83 billion, a PE ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. The company’s fifty day simple moving average is $77.26 and its 200-day simple moving average is $69.50.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. Carrier Global’s dividend payout ratio is 19.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CARR shares. Barclays cut their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Mizuho boosted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.