Coastline Trust Co Invests $37,000 in Carrier Global Co. (NYSE:CARR)

Coastline Trust Co acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, HoldingsChannel reports. The fund acquired 460 shares of the company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Olistico Wealth LLC bought a new stake in Carrier Global in the second quarter valued at $25,000. McClarren Financial Advisors Inc. boosted its stake in 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 purchasing an additional 310 shares during the period. Meeder Asset Management Inc. grew its position in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Country Trust Bank acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $40,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 0.6 %

Shares of Carrier Global stock opened at $74.53 on Monday. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average is $77.73 and its 200-day moving average is $69.89.

Carrier Global declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s payout ratio is presently 19.24%.

Analysts Set New Price Targets

CARR has been the subject of a number of recent analyst reports. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Morgan Stanley assumed 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. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Seven research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.