Prime Capital Investment Advisors LLC Sells 779 Shares of Carrier Global Co. (NYSE:CARR)

Prime Capital Investment Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,669 shares of the company’s stock after selling 779 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Carrier Global were worth $1,100,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. Capital International Investors boosted its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its stake in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Carrier Global in the second quarter worth about $58,415,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent 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 report on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Down 1.9 %

Shares of NYSE:CARR opened at $74.97 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 52-week low of $51.20 and a 52-week high of $83.32. The firm has a market capitalization of $67.27 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.71 and a beta of 1.34. The stock has a 50 day moving average price of $77.51 and a 200-day moving average price of $69.66.

Carrier Global declared that its Board of Directors has initiated 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 repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 19.24%.

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.