Maia Wealth LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Maia Wealth LLC bought a new stake in Carrier Global Co. (NYSE:CARR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 901 shares of the company’s stock, valued at approximately $73,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC raised its holdings in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Carrier Global in the 1st quarter valued at about $2,019,000. Kintegral Advisory LLC raised its holdings in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after purchasing an additional 8,705 shares during the period. Finally, Rockport Wealth LLC bought a new stake in shares of Carrier Global in the 1st quarter valued at about $478,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE CARR opened at $75.13 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 2.60 and a beta of 1.34. The firm’s 50 day simple moving average is $77.03 and its 200 day simple moving average is $68.99. Carrier Global Co. has a 1 year low of $50.31 and a 1 year high of $83.32.

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

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 1.01%. Carrier Global’s dividend payout ratio is currently 19.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Bank of America increased 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. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lowered their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven equities research 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, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

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.