Heritage Investors Management Corp Sells 590 Shares of Carrier Global Co. (NYSE:CARR)

Heritage Investors Management Corp lessened its holdings in Carrier Global Co. (NYSE:CARR) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,850 shares of the company’s stock after selling 590 shares during the period. Heritage Investors Management Corp’s holdings in Carrier Global were worth $3,851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. FSM Wealth Advisors LLC lifted its stake in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the period. Boston Financial Mangement LLC lifted its stake in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after purchasing an additional 150 shares during the period. Marathon Capital Management lifted its stake in shares of 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 during the period. Arkadios Wealth Advisors lifted its stake in shares of Carrier Global by 1.3% in the 3rd 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. Finally, Savant Capital LLC lifted its stake in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.1 %

Shares of CARR opened at $73.90 on Wednesday. The company has a 50 day simple moving average of $76.94 and a two-hundred day simple moving average of $68.94. Carrier Global Co. has a 1 year low of $49.62 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market cap of $66.31 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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

Analyst Ratings Changes

A number of research firms have commented on CARR. Wells Fargo & Company decreased their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Bank of America raised their target price 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. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

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.