Carrier Global Co. (NYSE:CARR) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 17.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,189 shares of the company’s stock after selling 1,330 shares during the period. Independent Advisor Alliance’s holdings in Carrier Global were worth $498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PineStone Asset Management Inc. increased its holdings in 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 stake in shares of Carrier Global in the second quarter worth $58,415,000. Mizuho Securities USA LLC raised its holdings in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Carrier Global in the 1st quarter worth about $24,600,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARR has been the topic of several research analyst reports. Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada lowered their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Price Performance

NYSE CARR opened at $76.90 on Friday. The company has a 50-day moving average price of $77.80 and a two-hundred day moving average price of $70.58. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.34. 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 Co. has a 52 week low of $51.20 and a 52 week high of $83.32.

Carrier Global Dividend Announcement

The firm 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. 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 declared that its board has initiated a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.