Graypoint LLC Acquires 464 Shares of Carrier Global Co. (NYSE:CARR)

Graypoint LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,449 shares of the company’s stock after buying an additional 464 shares during the quarter. Graypoint LLC’s holdings in Carrier Global were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position 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 worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. lifted its position 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 buying an additional 310 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.3 %

Shares of NYSE:CARR opened at $75.13 on Friday. The firm has a fifty day moving average price of $77.03 and a two-hundred day moving average price of $68.99. 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 one year low of $50.31 and a one year high of $83.32. The company has a market cap of $67.41 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.60 and a beta of 1.34.

Carrier Global announced that its board has initiated a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently declared 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. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARR. Stephens decreased their price target 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. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

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.