Carrier Global Co. (NYSE:CARR) Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,692 shares of the company’s stock after selling 774 shares during the period. Carrier Global comprises approximately 0.9% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Trueblood Wealth Management LLC’s holdings in Carrier Global were worth $1,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the second quarter worth about $25,000. McClarren Financial Advisors Inc. raised its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the period. Meeder Asset Management Inc. raised its position in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the period. Country Trust Bank acquired a new position in shares of Carrier Global in the third quarter worth about $40,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the second quarter worth about $32,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.4 %

Shares of NYSE CARR opened at $73.72 on Friday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The stock has a market cap of $66.42 billion, a PE ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $76.46 and a 200 day moving average of $67.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, sell-side analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CARR. Barclays decreased their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company cut their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday. Royal Bank of Canada cut their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Stephens cut shares of Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $75.00 to $85.00 in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.75.

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.