Benjamin Edwards Inc. Buys 62,009 Shares of Carrier Global Co. (NYSE:CARR)

Benjamin Edwards Inc. increased its stake in Carrier Global Co. (NYSE:CARR) by 1,111.5% in the third quarter, HoldingsChannel reports. The fund owned 67,588 shares of the company’s stock after purchasing an additional 62,009 shares during the period. Benjamin Edwards Inc.’s holdings in Carrier Global were worth $5,440,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter worth about $28,000. Meeder Asset Management Inc. boosted its stake in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new stake in Carrier Global in the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CARR shares. 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 research report on Thursday, October 17th. Barclays decreased their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company reduced their price objective on 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, Bank of America boosted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

NYSE:CARR opened at $75.58 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50-day simple moving average of $77.56 and a two-hundred day simple moving average of $70.90. The firm has a market capitalization of $67.81 billion, a PE ratio of 19.13, a P/E/G ratio of 2.82 and a beta of 1.33. Carrier Global Co. has a 52-week low of $52.28 and a 52-week high of $83.32.

Carrier Global Announces Dividend

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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

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