Firsthand Capital Management Inc. Has $80,000 Stock Holdings in Carrier Global Co. (NYSE:CARR)

Firsthand Capital Management Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 80.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the company’s stock after selling 4,000 shares during the period. Firsthand Capital Management Inc.’s holdings in Carrier Global were worth $80,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $25,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in shares of Carrier Global in the third quarter valued at $37,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. Finally, Country Trust Bank bought a new stake in shares of Carrier Global during the third quarter worth about $40,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR opened at $77.39 on Friday. The company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.85 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 50-day moving average price of $77.75 and a 200-day moving average price of $70.67. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32.

Carrier Global declared that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. Carrier Global’s dividend payout ratio is currently 19.24%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CARR. Wells Fargo & Company dropped their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Finally, Robert W. Baird lowered their target price 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. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

About Carrier Global

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.