Sheaff Brock Investment Advisors LLC Invests $1.07 Million in Carrier Global Co. (NYSE:CARR)

Sheaff Brock Investment Advisors LLC bought a new position in Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 13,265 shares of the company’s stock, valued at approximately $1,068,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares during the last quarter. Capital International Investors grew its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the period. PineStone Asset Management Inc. raised its position in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of a number of analyst reports. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Barclays lowered 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 note on Friday, October 25th. Mizuho raised their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven investment 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 data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

NYSE:CARR opened at $74.53 on Friday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50 day moving average of $77.73 and a 200 day moving average of $69.78. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its board has initiated a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.