HM Payson & Co. Increases Stake in Carrier Global Co. (NYSE:CARR)

HM Payson & Co. raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,349 shares of the company’s stock after buying an additional 314 shares during the quarter. HM Payson & Co.’s holdings in Carrier Global were worth $7,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in Carrier Global during the second quarter worth $25,000. 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 during the period. EdgeRock Capital LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, 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 during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global 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 completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CARR. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company reduced their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $0.13 during trading on Thursday, reaching $73.47. The company’s stock had a trading volume of 360,701 shares, compared to its average volume of 4,137,968. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 12-month low of $47.12 and a 12-month high of $83.32. The company has a market capitalization of $66.33 billion, a P/E ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The business has a 50 day moving average price of $76.80 and a 200-day moving average price of $68.32.

Carrier Global declared that its board has authorized a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.