Kingsview Wealth Management LLC Buys 1,040 Shares of Carrier Global Co. (NYSE:CARR)

Kingsview Wealth Management LLC boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,089 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Kingsview Wealth Management LLC’s holdings in Carrier Global were worth $1,295,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Carrier Global during the second quarter worth about $58,415,000. Mizuho Securities USA LLC increased its position in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares during the last quarter. International Assets Investment Management LLC raised its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $24,600,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CARR. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Stephens cut their target price on shares of 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. Royal Bank of Canada decreased their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

CARR opened at $76.91 on Wednesday. The firm has a market cap of $69.01 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. The business’s fifty day moving average is $77.90 and its 200-day moving average is $70.49. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.