Garden State Investment Advisory Services LLC Raises Holdings in Carrier Global Co. (NYSE:CARR)

Garden State Investment Advisory Services LLC increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 5,950 shares of the company’s stock after buying an additional 161 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Carrier Global were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. FSM Wealth Advisors LLC lifted its stake in Carrier Global by 2.2% during the 3rd 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. Meridian Wealth Management LLC lifted its position in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares during the period. Essex Savings Bank boosted its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the last quarter. Boston Financial Mangement LLC grew its position 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 during the period. Finally, Sittner & Nelson LLC raised its stake in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after buying an additional 150 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 0.6 %

Shares of CARR stock opened at $77.37 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $52.28 and a one year high of $83.32. The company’s fifty day moving average price is $77.75 and its 200-day moving average price is $70.75. The company has a market capitalization of $69.42 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.86 and a beta of 1.34.

Carrier Global announced that its board has initiated a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

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

Analysts Set New Price Targets

CARR has been the topic of a number of research reports. Mizuho raised their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Barclays lowered their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada decreased their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.