Prospera Private Wealth LLC Invests $439,000 in Carrier Global Co. (NYSE:CARR)

Prospera Private Wealth LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,457 shares of the company’s stock, valued at approximately $439,000.

A number of other hedge funds have also recently made changes to their positions in the business. PineStone Asset Management Inc. lifted its holdings in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Carrier Global by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after acquiring an additional 147,835 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after acquiring an additional 20,500 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Carrier Global by 0.4% in the 3rd quarter. Swiss National Bank now owns 2,406,985 shares of the company’s stock worth $193,738,000 after acquiring an additional 8,500 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. 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. Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Up 0.2 %

NYSE:CARR opened at $74.50 on Thursday. The firm’s 50-day moving average price is $77.86 and its 200-day moving average price is $70.10. The company has a market capitalization of $66.84 billion, a PE ratio of 18.86, a P/E/G ratio of 2.68 and a beta of 1.34. 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 1-year low of $51.20 and a 1-year high of $83.32.

Carrier Global announced that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

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

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.