Confluence Wealth Services Inc. Acquires Shares of 2,944 Carrier Global Co. (NYSE:CARR)

Confluence Wealth Services Inc. bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,944 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC increased its position in shares of Carrier Global by 54,708.0% during the second 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Carrier Global in the first quarter valued at approximately $2,019,000. Kintegral Advisory LLC raised its holdings in Carrier Global by 44.2% during 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 in the last quarter. Finally, Rockport Wealth LLC purchased a new stake in shares of Carrier Global during the 1st quarter worth approximately $478,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Carrier Global Price Performance

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

Carrier Global announced that its board has authorized 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 typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on CARR shares. Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. 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. Wells Fargo & Company cut 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 report on Friday, October 25th. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global 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.