Empower Advisory Group LLC Buys Shares of 2,785 Carrier Global Co. (NYSE:CARR)

Empower Advisory Group LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,785 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of CARR. Olistico Wealth LLC acquired a new position in Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its position in 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 during the period. EdgeRock Capital LLC bought a new position in Carrier Global during the 2nd quarter worth $32,000. Hantz Financial Services Inc. acquired a new stake in Carrier Global in the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. boosted its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of several recent analyst reports. Morgan Stanley began coverage on shares of 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. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday. Finally, Bank of America upped their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Down 0.6 %

Shares of NYSE:CARR opened at $74.53 on Friday. The firm has a 50 day simple moving average of $77.63 and a 200 day simple moving average of $69.69. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. 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 company has a market cap of $66.87 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.