Brown Brothers Harriman & Co. Sells 1,281 Shares of Carrier Global Co. (NYSE:CARR)

Brown Brothers Harriman & Co. reduced its stake in Carrier Global Co. (NYSE:CARR) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,446 shares of the company’s stock after selling 1,281 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Carrier Global were worth $4,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CARR. Boston Family Office LLC bought a new position in shares of Carrier Global in the third quarter valued at approximately $225,000. DRW Securities LLC acquired a new position in Carrier Global in the 3rd quarter valued at $748,000. Concentric Wealth Management LLC acquired a new position in Carrier Global in the 3rd quarter valued at $213,000. Dynamic Technology Lab Private Ltd bought a new position in Carrier Global in the 3rd quarter worth $793,000. Finally, Davis R M Inc. acquired a new position in Carrier Global during the 3rd quarter worth $205,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

Shares of Carrier Global stock opened at $78.86 on Tuesday. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The firm has a market capitalization of $70.76 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company’s fifty day moving average price is $77.92 and its two-hundred day moving average price is $70.41.

Carrier Global Dividend Announcement

The firm 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. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.96%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CARR shares. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Stephens decreased their target price on 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. Northcoast Research initiated coverage on Carrier Global in a research report on Friday. They issued a “neutral” rating on the stock. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

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.