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

Aberdeen Wealth Management LLC decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,100 shares of the company’s stock after selling 200 shares during the period. Aberdeen Wealth Management LLC’s holdings in Carrier Global were worth $330,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CARR. Frank Rimerman Advisors LLC lifted its holdings in shares of Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Carrier Global in the first quarter valued at $2,019,000. Kintegral Advisory LLC lifted its position in Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after purchasing an additional 8,705 shares during the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in shares of Carrier Global during the second quarter worth approximately $7,720,000. Finally, Vista Investment Partners LLC acquired a new position in shares of Carrier Global during the second quarter valued at $744,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR opened at $74.05 on Tuesday. The stock has a 50-day moving average of $77.79 and a 200-day moving average of $69.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The company has a market cap of $66.44 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. Carrier Global’s payout ratio is currently 19.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CARR shares. Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Stephens reduced 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 report on Monday, October 28th. Barclays lowered 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. Finally, 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 report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.31.

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.