Court Place Advisors LLC Sells 378 Shares of Carrier Global Co. (NYSE:CARR)

Court Place Advisors LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,654 shares of the company’s stock after selling 378 shares during the quarter. Court Place Advisors LLC’s holdings in Carrier Global were worth $455,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Marathon Capital Management boosted its holdings in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares in the last quarter. Savant Capital LLC increased its position in shares of Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after buying an additional 162 shares during the period. Foundations Investment Advisors LLC raised its stake in Carrier Global by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after buying an additional 163 shares in the last quarter. Busey Bank lifted its holdings in Carrier Global by 1.5% in the third quarter. Busey Bank now owns 11,138 shares of the company’s stock worth $896,000 after buying an additional 165 shares during the period. Finally, Founders Capital Management LLC boosted its position in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after acquiring an additional 175 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays increased their target price on Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company decreased their price target 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. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.17.

Carrier Global Stock Up 0.9 %

Shares of NYSE:CARR traded up $0.68 during trading on Friday, reaching $73.58. 698,053 shares of the stock traded hands, compared to its average volume of 4,132,864. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $83.32. The stock has a market cap of $66.30 billion, a P/E ratio of 51.12, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock has a 50-day moving average of $76.33 and a two-hundred day moving average of $67.76. 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 (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.77 earnings per share 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 during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, sell-side analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global announced that its board has approved a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

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 paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 53.15%.

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.