Hills Bank & Trust Co Acquires Shares of 1,336 Carrier Global Co. (NYSE:CARR)

Hills Bank & Trust Co bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,336 shares of the company’s stock, valued at approximately $108,000.

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

Carrier Global Price Performance

Shares of NYSE CARR opened at $72.59 on Friday. The stock’s 50-day moving average is $76.89 and its two-hundred day moving average is $68.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $65.13 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32. Carrier Global Co. has a 1-year low of $49.62 and a 1-year high of $83.32.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.05%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value 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 is available at this link. 6.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CARR. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company 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 company a “neutral” rating in a research report on Friday, October 18th. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.