Sittner & Nelson LLC Raises Position in Carrier Global Co. (NYSE:CARR)

Sittner & Nelson LLC boosted its stake in Carrier Global Co. (NYSE:CARR) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,187 shares of the company’s stock after buying an additional 150 shares during the quarter. Sittner & Nelson LLC’s holdings in Carrier Global were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hara Capital LLC purchased a new position in Carrier Global in the 3rd quarter valued at about $108,000. Montecito Bank & Trust lifted its stake in Carrier Global by 4.9% in the 3rd quarter. Montecito Bank & Trust now owns 8,034 shares of the company’s stock valued at $647,000 after buying an additional 372 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after buying an additional 20,500 shares in the last quarter. WoodTrust Financial Corp acquired a new stake in Carrier Global in the 3rd quarter valued at about $245,000. Finally, Graypoint LLC raised its holdings in Carrier Global by 4.6% in the 3rd quarter. Graypoint LLC now owns 10,449 shares of the company’s stock valued at $841,000 after acquiring an additional 464 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $75.13 on Friday. 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 Co. has a 52 week low of $50.31 and a 52 week high of $83.32. The stock has a market capitalization of $67.41 billion, a PE ratio of 19.02, a P/E/G ratio of 2.60 and a beta of 1.34. The firm has a 50 day moving average of $77.03 and a two-hundred day moving average of $68.99.

Carrier Global declared that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. Carrier Global’s dividend payout ratio is presently 19.24%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent research reports. 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 price objective for the company. Barclays cut their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Oppenheimer raised their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average 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.