Souders Financial Advisors Sells 2,578 Shares of Carrier Global Co. (NYSE:CARR)

Souders Financial Advisors cut its holdings in Carrier Global Co. (NYSE:CARR) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,012 shares of the company’s stock after selling 2,578 shares during the period. Souders Financial Advisors’ holdings in Carrier Global were worth $6,279,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Capital International Investors grew its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. grew its position in Carrier Global by 139.7% during 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the second quarter worth about $58,415,000. Finally, International Assets Investment Management LLC grew its position in Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CARR shares. Bank of America lifted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Barclays lowered their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Price Performance

Shares of CARR stock opened at $75.40 on Wednesday. Carrier Global Co. has a 12-month low of $50.67 and a 12-month high of $83.32. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.74 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 firm has a fifty day moving average of $77.36 and a 200-day moving average of $69.61.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.