Balentine LLC Invests $225,000 in Carrier Global Co. (NYSE:CARR)

Balentine LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,791 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Crestwood Advisors Group LLC raised its holdings in shares of Carrier Global by 2.2% during the third quarter. Crestwood Advisors Group LLC now owns 15,777 shares of the company’s stock worth $1,270,000 after purchasing an additional 341 shares during the period. Amalgamated Bank raised its stake in Carrier Global by 1.9% during the third quarter. Amalgamated Bank now owns 172,439 shares of the company’s stock worth $13,880,000 after acquiring an additional 3,196 shares during the period. Sentry Investment Management LLC lifted its holdings in Carrier Global by 11.2% in the third quarter. Sentry Investment Management LLC now owns 4,066 shares of the company’s stock worth $327,000 after acquiring an additional 410 shares during the last quarter. FSM Wealth Advisors LLC boosted its stake in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Carrier Global by 58.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 6,273 shares of the company’s stock valued at $504,000 after purchasing an additional 2,315 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley assumed coverage on shares of 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. Barclays reduced their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Stock Performance

CARR opened at $73.90 on Wednesday. The business has a 50 day moving average price of $76.94 and a two-hundred day moving average price of $68.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market capitalization of $66.31 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 1-year low of $49.62 and a 1-year high of $83.32.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is owned by corporate insiders.

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.