Meitav Investment House Ltd. Has $24.51 Million Stake in Carrier Global Co. (NYSE:CARR)

Meitav Investment House Ltd. decreased its position in Carrier Global Co. (NYSE:CARR) by 44.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 307,285 shares of the company’s stock after selling 249,005 shares during the period. Meitav Investment House Ltd.’s holdings in Carrier Global were worth $24,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. boosted 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 valued at $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the 2nd quarter valued at $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global during the 2nd quarter valued at $35,000. Finally, McClarren Financial Advisors Inc. boosted 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 valued at $35,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $73.53 on Thursday. The company has a market capitalization of $66.38 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a one year low of $47.12 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company’s fifty day moving average price is $76.80 and its 200 day moving average price is $68.32.

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

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. Carrier Global’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CARR shares. 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 report on Thursday, October 17th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Oppenheimer raised their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays cut their price target 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. Finally, Wells Fargo & Company cut their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

About Carrier Global

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.