Sargent Investment Group LLC Acquires 3,690 Shares of Carrier Global Co. (NYSE:CARR)

Sargent Investment Group LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,704 shares of the company’s stock after acquiring an additional 3,690 shares during the quarter. Sargent Investment Group LLC’s holdings in Carrier Global were worth $3,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FSM Wealth Advisors LLC raised its holdings in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares in the last quarter. Essex Savings Bank raised its holdings in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC raised its holdings in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. Sittner & Nelson LLC raised its holdings in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares in the last quarter. Finally, Marathon Capital Management raised its holdings in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR traded down $0.43 during trading hours on Thursday, reaching $75.97. The stock had a trading volume of 948,719 shares, compared to its average volume of 4,154,420. 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 52 week low of $51.20 and a 52 week high of $83.32. The company has a 50 day moving average price of $77.51 and a two-hundred day moving average price of $69.66. The stock has a market capitalization of $68.16 billion, a PE ratio of 19.22, a PEG ratio of 2.71 and a beta of 1.34.

Carrier Global declared that its board has initiated a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

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 paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CARR shares. Stephens decreased their price objective 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. Bank of America increased their target price 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 target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.31.

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.