PDS Planning Inc Buys New Shares in Carrier Global Co. (NYSE:CARR)

PDS Planning Inc purchased a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,142 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Capital International Investors boosted its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Point72 Asset Management L.P. bought a new position in Carrier Global during the 2nd quarter valued at approximately $58,415,000. Finally, International Assets Investment Management LLC lifted its holdings in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $73.90 on Wednesday. The business has a fifty day moving average price of $76.94 and a 200-day moving average price of $68.94. 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 capitalization of $66.31 billion, a PE ratio of 18.71, a PEG ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 1-year low of $49.62 and a 1-year high of $83.32.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Stephens dropped their target price on shares of 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. Royal Bank of Canada cut their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global 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.