Phillips Wealth Planners LLC Takes $277,000 Position in Carrier Global Co. (NYSE:CARR)

Phillips Wealth Planners LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, Holdings Channel reports. The firm bought 3,420 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors also recently bought and sold shares of the company. Boston Financial Mangement LLC grew its position in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares during the period. Marathon Capital Management raised its holdings in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Carrier Global by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after purchasing an additional 159 shares in the last quarter. Savant Capital LLC increased its position in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after buying an additional 162 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of Carrier Global by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock valued at $465,000 after buying an additional 163 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent research reports. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada lowered their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Seven 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Stock Down 0.2 %

CARR opened at $72.59 on Friday. The company has a market cap of $65.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 1 year low of $49.62 and a 1 year high of $83.32. The firm has a 50 day moving average price of $76.89 and a 200 day moving average price of $68.47.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm 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 dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. Carrier Global’s payout ratio is 19.24%.

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.