Centaurus Financial Inc. Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Centaurus Financial Inc. reduced its position in Carrier Global Co. (NYSE:CARR) by 53.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,189 shares of the company’s stock after selling 3,726 shares during the quarter. Centaurus Financial Inc.’s holdings in Carrier Global were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. PineStone Asset Management Inc. increased its position in Carrier Global by 139.7% in the second 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. Charles Schwab Investment Management Inc. increased its position in Carrier Global by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company’s stock worth $381,877,000 after buying an additional 49,196 shares during the last quarter. 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 last quarter. Dimensional Fund Advisors LP increased its position in Carrier Global by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,298,990 shares of the company’s stock worth $271,202,000 after buying an additional 147,835 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Carrier Global by 0.8% in the third quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Carrier Global stock opened at $76.89 on Thursday. 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 business has a 50-day simple moving average of $77.87 and a 200 day simple moving average of $70.54. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The stock has a market cap of $68.99 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34.

Carrier Global announced that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent research reports. Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target 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.