Patten & Patten Inc. TN Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Patten & Patten Inc. TN trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 18,224 shares of the company’s stock after selling 500 shares during the quarter. Patten & Patten Inc. TN’s holdings in Carrier Global were worth $1,467,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Carrier Global by 0.5% during the 1st 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 in the last quarter. Capital International Investors lifted its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 280.1% in the first 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 shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of 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. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 0.5 %

CARR stock opened at $76.29 on Tuesday. The business has a 50-day moving average of $77.26 and a 200-day moving average of $69.50. 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 stock has a market capitalization of $68.45 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a fifty-two week low of $50.67 and a fifty-two week high of $83.32.

Carrier Global Announces Dividend

The firm also recently declared 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. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is 19.24%.

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

Analyst Ratings Changes

CARR has been the topic of several research analyst reports. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Barclays dropped their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

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.