Pathway Financial Advisers LLC Buys 58,094 Shares of Carrier Global Co. (NYSE:CARR)

Pathway Financial Advisers LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 7,969.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,823 shares of the company’s stock after acquiring an additional 58,094 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $4,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the 3rd 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 period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

CARR has been the subject of several research analyst reports. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Royal Bank of Canada reduced their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Oppenheimer upped their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley began coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six 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 $81.33.

Carrier Global Stock Down 1.4 %

CARR stock opened at $74.60 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $67.35 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 2.94 and a beta of 1.32. The business’s fifty day moving average price is $76.72 and its two-hundred day moving average price is $68.28. Carrier Global Co. has a fifty-two week low of $46.77 and a fifty-two week high of $83.32.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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

Insider Transactions 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 transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

About Carrier Global

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.