Pathway Financial Advisers LLC Has $4.74 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Pathway Financial Advisers LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 7,969.0% during the third quarter, HoldingsChannel.com reports. The firm owned 58,823 shares of the company’s stock after purchasing an additional 58,094 shares during the period. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $4,735,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter valued at about $25,000. Meeder Asset Management Inc. boosted its stake in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the second quarter valued at about $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global during the second quarter valued at about $35,000. Finally, McClarren Financial Advisors Inc. raised its position in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is owned by corporate insiders.

Carrier Global Trading Down 1.4 %

NYSE CARR opened at $74.60 on Wednesday. The firm has a market capitalization of $67.35 billion, a P/E ratio of 52.17, a PEG ratio of 2.94 and a beta of 1.32. The business has a fifty day simple moving average of $76.72 and a 200 day simple moving average of $68.28. Carrier Global Co. has a 12 month low of $46.77 and a 12 month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. Carrier Global’s payout ratio is 53.15%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Wells Fargo & Company dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.33.

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.