Carrier Global Co. (NYSE:CARR) Holdings Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in Carrier Global Co. (NYSE:CARR) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,488 shares of the company’s stock after selling 4,656 shares during the quarter. Kentucky Retirement Systems’ holdings in Carrier Global were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARR. FSM Wealth Advisors LLC raised its holdings in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the period. Essex Savings Bank increased its stake in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares during the period. Boston Financial Mangement LLC lifted its position in Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares in the last quarter. Sittner & Nelson LLC grew its holdings in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares in the last quarter. Finally, Marathon Capital Management raised its holdings in shares of Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CARR. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Trading Down 0.6 %

Carrier Global stock opened at $74.53 on Friday. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34. The business’s 50-day simple moving average is $77.73 and its 200-day simple moving average is $69.83.

Carrier Global announced that its Board of Directors has initiated 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 buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

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.