First Horizon Advisors Inc. Sells 230 Shares of Carrier Global Co. (NYSE:CARR)

First Horizon Advisors Inc. decreased its position in Carrier Global Co. (NYSE:CARR) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,182 shares of the company’s stock after selling 230 shares during the period. First Horizon Advisors Inc.’s holdings in Carrier Global were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PineStone Asset Management Inc. lifted its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Carrier Global during the second quarter worth $58,415,000. Mizuho Securities USA LLC grew its position in shares of Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares during the period. Finally, Swedbank AB purchased a new stake in Carrier Global during the 1st quarter worth about $24,600,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CARR shares. Stephens reduced their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company reduced 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 note on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Oppenheimer boosted their price target 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, Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Trading Up 2.1 %

NYSE CARR opened at $76.04 on Friday. 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 company has a market capitalization of $68.22 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.67 and a beta of 1.34. The stock’s 50-day simple moving average is $77.87 and its two-hundred day simple moving average is $70.14. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

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

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

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.