Logan Capital Management Inc. Sells 350 Shares of Carrier Global Co. (NYSE:CARR)

Logan Capital Management Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 12.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,354 shares of the company’s stock after selling 350 shares during the quarter. Logan Capital Management Inc.’s holdings in Carrier Global were worth $189,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new position in Carrier Global during the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $37,000. Meeder Asset Management Inc. raised its position in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank acquired a new position in Carrier Global during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $73.02 on Friday. The stock’s fifty day simple moving average is $76.52 and its 200 day simple moving average is $71.28. 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 $65.52 billion, a PE ratio of 18.49, a PEG ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global declared that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARR shares. Barclays lifted their target price on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $83.50.

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.