Glenmede Trust Co. NA Cuts Holdings in Carrier Global Co. (NYSE:CARR)

Glenmede Trust Co. NA decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,070 shares of the company’s stock after selling 6,254 shares during the period. Glenmede Trust Co. NA’s holdings in Carrier Global were worth $8,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Olistico Wealth LLC purchased a new position in Carrier Global during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its stake in shares of Carrier Global by 675.0% during 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 in the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global in the 2nd quarter worth $32,000. Hantz Financial Services Inc. purchased a new stake in Carrier Global in the 2nd quarter worth $35,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% during 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 period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Up 0.6 %

Shares of CARR opened at $77.39 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The company has a market cap of $69.43 billion, a PE ratio of 19.59, a P/E/G ratio of 2.85 and a beta of 1.34. The business has a fifty day moving average of $77.75 and a 200 day moving average of $70.67.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.98%. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.