Carrier Global Co. (NYSE:CARR) Stock Holdings Lessened by Evermay Wealth Management LLC

Evermay Wealth Management LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,790 shares of the company’s stock after selling 155 shares during the period. Evermay Wealth Management LLC’s holdings in Carrier Global were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARR. Vanguard Group Inc. boosted its stake in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares during the period. Capital International Investors lifted its holdings in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the period. PineStone Asset Management Inc. grew its stake in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after buying an additional 72,633 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 several analyst reports. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. 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 report on Monday. Finally, Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred 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 approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $73.60 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $76.80 and its 200 day moving average price is $68.32. Carrier Global Co. has a 52-week low of $47.12 and a 52-week high of $83.32. The firm has a market cap of $66.44 billion, a P/E ratio of 51.47, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. 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 dividend payout ratio is currently 53.15%.

Carrier Global declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.