Mill Creek Capital Advisors LLC Buys Shares of 2,590 Carrier Global Co. (NYSE:CARR)

Mill Creek Capital Advisors LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,590 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also recently modified their holdings of the company. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the period. Essex Savings Bank raised its stake in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the period. Boston Financial Mangement LLC lifted its holdings in 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 in the last quarter. Sittner & Nelson LLC boosted its stake in Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares during the period. Finally, Marathon Capital Management grew its holdings in Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after buying an additional 156 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.6 %

Shares of Carrier Global stock opened at $74.53 on Monday. Carrier Global Co. has a 1 year low of $51.20 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 stock has a market cap of $66.87 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.68 and a beta of 1.34. The firm’s 50-day moving average is $77.73 and its two-hundred day moving average is $69.89.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

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

Analysts Set New Price Targets

CARR has been the topic of several research analyst reports. Bank of America boosted their price target 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. Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Stephens lowered their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven 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 company. According to data from MarketBeat.com, Carrier Global presently has a consensus 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.