Souders Financial Advisors Sells 2,578 Shares of Carrier Global Co. (NYSE:CARR)

Souders Financial Advisors reduced its stake in Carrier Global Co. (NYSE:CARR) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 78,012 shares of the company’s stock after selling 2,578 shares during the quarter. Souders Financial Advisors’ holdings in Carrier Global were worth $6,279,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Carrier Global during the 2nd quarter worth about $25,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Meeder Asset Management Inc. raised 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 valued at $29,000 after purchasing an additional 405 shares during the period. Country Trust Bank bought a new stake in shares of Carrier Global in the 3rd quarter valued at about $40,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $32,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $75.40 on Wednesday. The company’s 50 day moving average price is $77.36 and its two-hundred day moving average price is $69.61. Carrier Global Co. has a 12-month low of $50.67 and a 12-month high of $83.32. The firm has a market cap of $67.65 billion, a PE ratio of 19.09, a PEG ratio of 2.74 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

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

Carrier Global Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARR. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Stephens decreased 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 note on Monday, October 28th. Royal Bank of Canada decreased 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 note on Friday, October 25th. Finally, Wells Fargo & Company decreased their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

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.