Carrier Global Co. (NYSE:CARR) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,725 shares of the company’s stock after selling 7,335 shares during the period. Cumberland Partners Ltd’s holdings in Carrier Global were worth $6,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after purchasing an additional 466,829 shares during the last quarter. Capital International Investors lifted its position in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. lifted its position in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after acquiring an additional 72,633 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Barclays reduced their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Oppenheimer increased 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. Finally, Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Stock Performance

Carrier Global stock traded up $0.16 during mid-day trading on Tuesday, hitting $76.45. 230,890 shares of the company’s stock traded hands, compared to its average volume of 4,132,884. The firm has a 50 day moving average price of $77.26 and a 200 day moving average price of $69.50. 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 company has a market cap of $68.59 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a one year low of $50.67 and a one year high of $83.32.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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

Carrier Global Company 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.