Carrier Global Co. (NYSE:CARR) Stock Position Decreased by Barnett & Company Inc.

Barnett & Company Inc. lowered its holdings in Carrier Global Co. (NYSE:CARR) by 62.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,321 shares of the company’s stock after selling 5,550 shares during the period. Barnett & Company Inc.’s holdings in Carrier Global were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CARR. Vanguard Group Inc. boosted its position in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. lifted its position in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARR has been the subject of several analyst reports. Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. 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. Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada dropped their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Barclays cut their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Seven research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Stock Performance

CARR traded down $0.69 during trading on Tuesday, hitting $75.60. The stock had a trading volume of 817,459 shares, compared to its average volume of 4,135,563. The company has a 50 day simple moving average of $77.26 and a 200-day simple moving average of $69.50. 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 $67.83 billion, a PE ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

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

Carrier Global Dividend Announcement

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

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.