Meeder Advisory Services Inc. Increases Holdings in Carrier Global Co. (NYSE:CARR)

Meeder Advisory Services Inc. increased its stake in Carrier Global Co. (NYSE:CARR) by 1.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 21,674 shares of the company’s stock after buying an additional 343 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Carrier Global were worth $1,745,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CARR. FSM Wealth Advisors LLC raised its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Essex Savings Bank lifted its holdings in Carrier Global by 2.2% during the third 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 last quarter. Boston Financial Mangement LLC boosted its position in Carrier Global by 1.7% during the third 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. Sittner & Nelson LLC increased its stake in shares of Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares in the last quarter. Finally, Marathon Capital Management lifted its stake in shares of 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. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CARR. Stephens dropped their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Oppenheimer upped their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company cut 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 research report on Friday, October 25th. Finally, Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Trading Down 0.6 %

Shares of CARR stock opened at $74.05 on Tuesday. The business has a 50-day moving average price of $77.79 and a two-hundred day moving average price of $69.99. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. 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 market cap of $66.44 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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.