BIP Wealth LLC Acquires Shares of 5,175 Carrier Global Co. (NYSE:CARR)

BIP Wealth LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,175 shares of the company’s stock, valued at approximately $417,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. FSM Wealth Advisors LLC lifted its stake in Carrier Global by 2.2% during the 3rd 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 in the last quarter. Essex Savings Bank lifted its position in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after purchasing an additional 150 shares during the last quarter. Sittner & Nelson LLC grew its position in Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares in the last quarter. Finally, Marathon Capital Management increased its stake in Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $74.27 on Wednesday. The stock has a market cap of $66.64 billion, a P/E ratio of 18.80, a PEG ratio of 2.68 and a beta of 1.34. 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 business’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $70.07. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CARR shares. Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays decreased their price target 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. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Finally, Stephens cut their target price 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. Seven research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

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.