Massachusetts Financial Services Co. MA Lowers Stake in Carrier Global Co. (NYSE:CARR)

Massachusetts Financial Services Co. MA trimmed its position in Carrier Global Co. (NYSE:CARR) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 946,874 shares of the company’s stock after selling 242,829 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.11% of Carrier Global worth $76,214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FSM Wealth Advisors LLC lifted its position in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares in the last quarter. Essex Savings Bank lifted its stake in shares of Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in 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 purchasing an additional 150 shares during the last quarter. Sittner & Nelson LLC grew its stake in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares in the last quarter. Finally, Marathon Capital Management increased its holdings in Carrier Global by 4.1% during 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. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CARR shares. Bank of America raised their price target 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. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company cut their price objective on 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. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Finally, Oppenheimer upped their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Up 1.3 %

Carrier Global stock opened at $77.00 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The company has a 50-day simple moving average of $77.88 and a 200-day simple moving average of $70.32. The firm has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.73 and a beta of 1.34.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global Company 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.