Carrier Global Co. (NYSE:CARR) Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 34.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the company’s stock after buying an additional 225 shares during the period. Prestige Wealth Management Group LLC’s holdings in Carrier Global were worth $70,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FSA Wealth Management LLC purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. raised its stake in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. Finally, Country Trust Bank purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $40,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $72.83 on Wednesday. The business’s fifty day moving average price is $77.07 and its two-hundred day moving average price is $71.14. The stock has a market cap of $65.35 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global announced that its board has initiated a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CARR shares. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Barclays raised their price objective on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. 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, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $82.54.

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.