Carrier Global Co. (NYSE:CARR) Shares Sold by SouthState Corp

SouthState Corp lessened its holdings in Carrier Global Co. (NYSE:CARR) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,944 shares of the company’s stock after selling 184 shares during the quarter. SouthState Corp’s holdings in Carrier Global were worth $559,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Frank Rimerman Advisors LLC increased its position in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Carrier Global in the first quarter valued at about $2,019,000. Kintegral Advisory LLC raised its stake in shares of Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after purchasing an additional 8,705 shares during the last quarter. Foster Victor Wealth Advisors LLC acquired a new stake in shares of Carrier Global during the second quarter worth about $7,720,000. Finally, Vista Investment Partners LLC purchased a new stake in Carrier Global in the second quarter valued at approximately $744,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $74.27 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a fifty day moving average of $77.84 and a 200 day moving average of $70.07. The firm has a market cap of $66.64 billion, a PE ratio of 18.80, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32.

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

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Carrier Global’s dividend payout ratio is currently 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CARR shares. Stephens reduced 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 report on Monday, October 28th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Mizuho upped their price target 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. Wells Fargo & Company cut their price target on 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, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus 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.