Amalgamated Bank Has $13.88 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Amalgamated Bank increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,439 shares of the company’s stock after buying an additional 3,196 shares during the quarter. Amalgamated Bank’s holdings in Carrier Global were worth $13,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. boosted 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 worth $35,000 after purchasing an additional 310 shares during the period. Meeder Asset Management Inc. increased its holdings in Carrier Global by 675.0% during the 2nd 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. Country Trust Bank acquired a new stake in shares of Carrier Global in the 3rd quarter valued at about $40,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Carrier Global in the second quarter valued at about $32,000. 91.00% of the stock is currently owned by institutional investors.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on 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 owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Up 2.1 %

CARR stock opened at $73.90 on Wednesday. The business’s 50 day simple moving average is $76.94 and its 200 day simple moving average is $68.94. Carrier Global Co. has a 1-year low of $49.62 and a 1-year high of $83.32. The firm has a market capitalization of $66.31 billion, a PE ratio of 18.71, a PEG ratio of 2.61 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

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

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is presently 19.24%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CARR. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. 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. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus 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.