Victory Capital Management Inc. Sells 341,033 Shares of Carrier Global Co. (NYSE:CARR)

Victory Capital Management Inc. reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,097,926 shares of the company’s stock after selling 341,033 shares during the period. Victory Capital Management Inc.’s holdings in Carrier Global were worth $329,842,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARR. Aptus Capital Advisors LLC grew its stake in Carrier Global by 39.4% in the 3rd quarter. Aptus Capital Advisors LLC now owns 9,324 shares of the company’s stock valued at $750,000 after buying an additional 2,633 shares during the last quarter. Hemenway Trust Co LLC grew its position in shares of Carrier Global by 41.3% in the third quarter. Hemenway Trust Co LLC now owns 288,023 shares of the company’s stock valued at $23,183,000 after purchasing an additional 84,208 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Carrier Global by 1.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,862,043 shares of the company’s stock worth $149,876,000 after purchasing an additional 19,331 shares during the period. Harbour Investments Inc. boosted its stake in Carrier Global by 8.5% during the 3rd quarter. Harbour Investments Inc. now owns 7,042 shares of the company’s stock valued at $567,000 after purchasing an additional 553 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in Carrier Global by 5.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 22,515 shares of the company’s stock valued at $1,812,000 after purchasing an additional 1,238 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR traded down $0.69 during midday trading on Tuesday, hitting $75.60. The company had a trading volume of 817,459 shares, compared to its average volume of 4,135,563. The company has a market capitalization of $67.83 billion, a PE ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a twelve month low of $50.67 and a twelve month 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 firm’s 50-day simple moving average is $77.26 and its 200-day simple moving average is $69.50.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. Carrier Global’s dividend payout ratio is currently 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CARR shares. Wells Fargo & Company dropped their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.