EP Wealth Advisors LLC Buys 7,119 Shares of Carrier Global Co. (NYSE:CARR)

EP Wealth Advisors LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 48.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,708 shares of the company’s stock after acquiring an additional 7,119 shares during the quarter. EP Wealth Advisors LLC’s holdings in Carrier Global were worth $1,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC raised its holdings in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares during 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 valued at $532,000 after buying an additional 144 shares in the last quarter. Boston Financial Mangement LLC grew its holdings in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC increased its position in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 0.7 %

CARR opened at $73.19 on Tuesday. The company’s 50-day moving average price is $77.22 and its two-hundred day moving average price is $71.08. 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 twelve month low of $53.13 and a twelve month high of $83.32. The stock has a market cap of $65.67 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.23%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is 19.24%.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on CARR shares. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Robert W. Baird lowered their target price 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. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $82.54.

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.