Burke & Herbert Bank & Trust Co. Acquires Shares of 5,640 Carrier Global Co. (NYSE:CARR)

Burke & Herbert Bank & Trust Co. acquired a new stake in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,640 shares of the company’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new stake in Carrier Global during the second quarter worth approximately $25,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. Country Trust Bank acquired a new stake in Carrier Global during the 3rd quarter worth approximately $40,000. Finally, EdgeRock Capital LLC acquired a new stake in Carrier Global during the 2nd quarter worth approximately $32,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $0.77 during trading on Friday, reaching $73.67. 516,961 shares of the company’s stock were exchanged, compared to its average volume of 4,131,989. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $83.32. The company has a market cap of $66.38 billion, a P/E ratio of 51.12, a PEG ratio of 2.94 and a beta of 1.32. The firm’s 50-day moving average price is $76.33 and its 200 day moving average price is $67.76.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. Carrier Global’s dividend payout ratio is currently 53.15%.

Carrier Global declared that its board has approved a stock repurchase plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CARR. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Wells Fargo & Company dropped 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. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada boosted their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $81.17.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.95% of the company’s stock.

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.