Kingfisher Capital LLC Invests $228,000 in Carrier Global Co. (NYSE:CARR)

Kingfisher Capital LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,838 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC raised its holdings in shares of 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 buying an additional 13,677 shares during the last quarter. Kintegral Advisory LLC boosted its position in Carrier Global by 44.2% during the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after acquiring an additional 8,705 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in shares of Carrier Global in the second quarter worth $7,720,000. Vista Investment Partners LLC acquired a new position in shares of Carrier Global during the second quarter valued at $744,000. Finally, Janus Henderson Group PLC raised its stake in shares of Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after purchasing an additional 65,796 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.1 %

Shares of NYSE:CARR opened at $76.90 on Friday. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $69.00 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The firm has a 50 day simple moving average of $77.80 and a 200 day simple moving average of $70.58.

Carrier Global announced that its Board of Directors has approved a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is 19.24%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. Bank of America increased their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley initiated coverage on 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. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.31.

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.