Avestar Capital LLC Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Avestar Capital LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,930 shares of the company’s stock after buying an additional 416 shares during the period. Avestar Capital LLC’s holdings in Carrier Global were worth $960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CARR. FSM Wealth Advisors LLC increased its holdings in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. Essex Savings Bank raised its holdings in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the period. Boston Financial Mangement LLC boosted 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 purchasing an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC grew its holdings in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 2.5 %

Shares of CARR opened at $76.91 on Wednesday. The company’s 50-day simple moving average is $77.90 and its 200-day simple moving average is $70.49. 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 $51.20 and a 1 year high of $83.32. The stock has a market capitalization of $69.01 billion, a PE ratio of 19.47, a P/E/G ratio of 2.77 and a beta of 1.34.

Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent analyst reports. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Barclays lowered their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Bank of America increased their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.