Pathway Financial Advisers LLC Purchases 58,094 Shares of Carrier Global Co. (NYSE:CARR)

Pathway Financial Advisers LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 7,969.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,823 shares of the company’s stock after buying an additional 58,094 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marathon Capital Management raised its stake in Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Carrier Global by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock worth $982,000 after purchasing an additional 159 shares during the period. Savant Capital LLC raised its position in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after buying an additional 162 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Carrier Global by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock valued at $465,000 after buying an additional 163 shares during the period. Finally, Busey Bank increased its stake in Carrier Global by 1.5% during the 3rd quarter. Busey Bank now owns 11,138 shares of the company’s stock worth $896,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent analyst reports. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada cut 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. 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 price objective on the stock. Finally, Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $75.00 to $85.00 in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.75.

Carrier Global Trading Up 1.4 %

Shares of NYSE:CARR traded up $1.01 during mid-day trading on Friday, reaching $73.72. 5,301,655 shares of the company’s stock were exchanged, compared to its average volume of 4,155,103. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $83.32. The business’s fifty day moving average price is $76.46 and its 200-day moving average price is $67.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.61 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. On average, research analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 yield of 1.03%. Carrier Global’s payout ratio is 53.15%.

Carrier Global announced that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on 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 completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.95% of the company’s stock.

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.