Carrier Global Co. (NYSE:CARR) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,742 shares of the company’s stock after selling 675 shares during the period. Meridian Investment Counsel Inc.’s holdings in Carrier Global were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new stake in Carrier Global during the second quarter worth approximately $25,000. McClarren Financial Advisors Inc. raised its stake in 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 acquiring an additional 310 shares in the last quarter. Coastline Trust Co acquired a new position in Carrier Global in the third quarter valued at $37,000. 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 purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank purchased a new position in Carrier Global during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday. Finally, Stephens reduced their price objective on 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. Seven 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Performance

Shares of CARR opened at $74.53 on Friday. The company has a market capitalization of $66.87 billion, a PE ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34. 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 simple moving average of $77.73 and a 200-day simple moving average of $69.78. 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 declared that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s dividend payout ratio is presently 19.24%.

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.