Apollon Wealth Management LLC Has $1.81 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Apollon Wealth Management LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,515 shares of the company’s stock after acquiring an additional 1,238 shares during the period. Apollon Wealth Management LLC’s holdings in Carrier Global were worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in Carrier Global during the second quarter valued at about $25,000. Meeder Asset Management Inc. increased its position in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CARR shares. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays dropped their price target 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. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. 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. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Up 1.2 %

Shares of NYSE CARR opened at $76.35 on Thursday. The stock has a market cap of $68.50 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.71 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. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The business has a 50-day moving average price of $77.36 and a 200 day moving average price of $69.61.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 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.