Signature Estate & Investment Advisors LLC Acquires 1,037 Shares of Carrier Global Co. (NYSE:CARR)

Signature Estate & Investment Advisors LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.8% during the third quarter, Holdings Channel.com reports. The fund owned 11,581 shares of the company’s stock after buying an additional 1,037 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Carrier Global were worth $932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC raised its holdings in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the period. Quadrature Capital Ltd bought a new stake in Carrier Global during the first quarter valued at about $2,019,000. Kintegral Advisory LLC raised its holdings in Carrier Global by 44.2% during the second 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 period. Rockport Wealth LLC bought a new stake in Carrier Global during the first quarter valued at about $478,000. Finally, Foster Victor Wealth Advisors LLC bought a new stake in Carrier Global during the second quarter valued at about $7,720,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of a number of research analyst reports. Mizuho raised their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Barclays cut their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Stock Down 0.6 %

Shares of NYSE:CARR opened at $74.53 on Friday. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The business has a 50 day simple moving average of $77.73 and a two-hundred day simple moving average of $69.78. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global declared that its Board of Directors has initiated a stock buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The firm 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 dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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.