Huntington National Bank Purchases 1,494 Shares of Carrier Global Co. (NYSE:CARR)

Huntington National Bank lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,783 shares of the company’s stock after purchasing an additional 1,494 shares during the quarter. Huntington National Bank’s holdings in Carrier Global were worth $4,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CARR. Frank Rimerman Advisors LLC raised its holdings in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the period. Quadrature Capital Ltd bought a new stake in Carrier Global in the 1st quarter valued at $2,019,000. Kintegral Advisory LLC increased its holdings in Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after purchasing an additional 8,705 shares in the last quarter. Rockport Wealth LLC acquired a new stake in shares of Carrier Global in the 1st quarter valued at about $478,000. Finally, Foster Victor Wealth Advisors LLC bought a new stake in shares of Carrier Global in the second quarter valued at about $7,720,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Barclays cut their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company reduced their price objective 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, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Performance

CARR opened at $74.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $67.27 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.71 and a beta of 1.34. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The business has a 50 day moving average of $77.51 and a 200-day moving average of $69.66.

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 given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is presently 19.24%.

Carrier Global declared that its Board of Directors has approved 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 reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are 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.