Centaurus Financial Inc. Sells 3,726 Shares of Carrier Global Co. (NYSE:CARR)

Centaurus Financial Inc. decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 53.9% in the third quarter, HoldingsChannel reports. The firm owned 3,189 shares of the company’s stock after selling 3,726 shares during the quarter. Centaurus Financial Inc.’s holdings in Carrier Global were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. PineStone Asset Management Inc. grew its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Carrier Global by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock worth $381,877,000 after acquiring an additional 49,196 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Carrier Global by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after acquiring an additional 147,835 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after acquiring an additional 20,500 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

CARR stock opened at $76.89 on Thursday. The stock has a market capitalization of $68.99 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.83 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 company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $70.54.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.