Private Trust Co. NA Has $886,000 Stake in Carrier Global Co. (NYSE:CARR)

Private Trust Co. NA lifted its holdings in Carrier Global Co. (NYSE:CARR) by 23.4% during the 3rd quarter, Holdings Channel reports. The fund owned 11,004 shares of the company’s stock after acquiring an additional 2,086 shares during the quarter. Private Trust Co. NA’s holdings in Carrier Global were worth $886,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Frank Rimerman Advisors LLC increased its position in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares during the period. Kintegral Advisory LLC raised its position in shares of Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after acquiring an additional 8,705 shares during the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $7,720,000. Vista Investment Partners LLC acquired a new stake in shares of Carrier Global during the second quarter worth $744,000. Finally, Janus Henderson Group PLC increased its holdings in Carrier Global by 28.8% in the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after purchasing an additional 65,796 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 2.5 %

Shares of Carrier Global stock opened at $76.91 on Wednesday. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The business’s 50 day simple moving average is $77.90 and its 200 day simple moving average is $70.49. The firm has a market cap of $69.01 billion, a PE ratio of 19.47, a P/E/G ratio of 2.77 and a beta of 1.34.

Carrier Global announced that its Board of Directors has initiated 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 repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada decreased their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.31.

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.