Folger Nolan Fleming Douglas Capital Management Inc. Has $788,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in Carrier Global Co. (NYSE:CARR) by 8.8% in the third quarter, Holdings Channel reports. The fund owned 9,788 shares of the company’s stock after selling 945 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the 2nd quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global in the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its stake in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CARR. Mizuho raised their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Barclays lowered their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Bank of America boosted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company dropped their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Seven 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Stock Performance

Shares of CARR opened at $73.60 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $66.44 billion, a P/E ratio of 51.47, a P/E/G ratio of 2.94 and a beta of 1.32. The business’s 50 day moving average price is $76.80 and its 200-day moving average price is $68.32. Carrier Global Co. has a 52 week low of $47.12 and a 52 week high of $83.32.

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

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio is currently 53.15%.

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.