Intech Investment Management LLC Sells 70,295 Shares of Carrier Global Co. (NYSE:CARR)

Intech Investment Management LLC lowered its position in Carrier Global Co. (NYSE:CARR) by 77.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,611 shares of the company’s stock after selling 70,295 shares during the period. Intech Investment Management LLC’s holdings in Carrier Global were worth $1,659,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in Carrier Global during the first quarter valued at about $38,000. BOKF NA grew its holdings in Carrier Global by 4.8% during the first quarter. BOKF NA now owns 17,384 shares of the company’s stock valued at $998,000 after purchasing an additional 804 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Carrier Global by 3.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock valued at $2,778,000 after purchasing an additional 1,761 shares during the period. Janus Henderson Group PLC grew its holdings in Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after purchasing an additional 65,796 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Carrier Global by 203.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock valued at $2,232,000 after purchasing an additional 27,100 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $78.86 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $70.76 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.77 and a beta of 1.34. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The business’s 50-day moving average is $77.92 and its 200 day moving average is $70.41.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its board has approved a share repurchase 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 usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on CARR. Bank of America boosted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Northcoast Research assumed coverage on Carrier Global in a report on Friday. They set a “neutral” rating for the company. Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Barclays dropped their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company dropped their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.