Carrier Global Co. (NYSE:CARR) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in Carrier Global Co. (NYSE:CARR) by 12.2% in the third quarter, Holdings Channel.com reports. The firm owned 14,697 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Carrier Global were worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its stake in shares of Carrier Global by 8.9% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,214 shares of the company’s stock worth $303,000 after purchasing an additional 426 shares during the period. Brookstone Capital Management boosted its holdings in Carrier Global by 14.4% during the first quarter. Brookstone Capital Management now owns 5,683 shares of the company’s stock worth $330,000 after buying an additional 715 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Carrier Global by 18.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,847 shares of the company’s stock worth $398,000 after buying an additional 1,088 shares during the period. Capital Asset Advisory Services LLC increased its holdings in Carrier Global by 35.7% in the first quarter. Capital Asset Advisory Services LLC now owns 4,973 shares of the company’s stock valued at $281,000 after buying an additional 1,309 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Carrier Global during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CARR shares. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Oppenheimer increased 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. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is currently owned by insiders.

Carrier Global Trading Up 1.4 %

Shares of Carrier Global stock opened at $73.72 on Friday. The firm has a market cap of $66.42 billion, a PE ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The business’s fifty day moving average is $76.33 and its two-hundred day moving average is $67.76.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Carrier Global announced that its Board of Directors has initiated 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 buy up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.