J.W. Cole Advisors Inc. Sells 371 Shares of Carrier Global Co. (NYSE:CARR)

J.W. Cole Advisors Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 2.6% during the 3rd quarter, Holdings Channel reports. The fund owned 14,005 shares of the company’s stock after selling 371 shares during the period. J.W. Cole Advisors Inc.’s holdings in Carrier Global were worth $1,127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CARR. Brookstone Capital Management boosted its position in shares of Carrier Global by 14.4% in the first quarter. Brookstone Capital Management now owns 5,683 shares of the company’s stock valued at $330,000 after acquiring an additional 715 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in Carrier Global in the 1st quarter valued at about $1,665,000. Norden Group LLC acquired a new position in shares of Carrier Global during the 1st quarter worth approximately $3,982,000. Massachusetts Wealth Management increased its holdings in shares of Carrier Global by 39.0% during the first quarter. Massachusetts Wealth Management now owns 11,500 shares of the company’s stock worth $668,000 after purchasing an additional 3,225 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in shares of Carrier Global by 17.0% in the first quarter. First Trust Direct Indexing L.P. now owns 21,456 shares of the company’s stock valued at $1,247,000 after buying an additional 3,121 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.4 %

Shares of NYSE:CARR opened at $74.60 on Wednesday. Carrier Global Co. has a 52-week low of $46.77 and a 52-week high of $83.32. The company has a market capitalization of $67.35 billion, a PE ratio of 52.17, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a fifty day moving average of $76.72 and a 200-day moving average of $68.28.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s payout ratio is presently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated 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 in the company, 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 SEC, which is accessible through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CARR shares. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.