Capital Management Corp VA Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Capital Management Corp VA reduced its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,849 shares of the company’s stock after selling 9,937 shares during the quarter. Capital Management Corp VA’s holdings in Carrier Global were worth $8,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter valued at $25,000. McClarren Financial Advisors Inc. boosted its stake in shares of Carrier Global by 246.0% during 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 last quarter. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. Country Trust Bank acquired a new position in shares of Carrier Global in the third quarter valued at approximately $40,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company decreased 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 research report on Friday, October 25th. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Trading Down 0.3 %

Shares of CARR opened at $72.40 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 12 month low of $49.62 and a 12 month high of $83.32. The stock has a market cap of $64.96 billion, a PE ratio of 18.33, a P/E/G ratio of 2.61 and a beta of 1.34. The stock’s 50-day moving average is $76.90 and its two-hundred day moving average is $68.80.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

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.