Barnett & Company Inc. Has $267,000 Position in Carrier Global Co. (NYSE:CARR)

Barnett & Company Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 62.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,321 shares of the company’s stock after selling 5,550 shares during the quarter. Barnett & Company Inc.’s holdings in Carrier Global were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth approximately $25,000. McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in 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 in the last quarter. Country Trust Bank bought a new stake in shares of Carrier Global during the third quarter worth $40,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter valued at $32,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens reduced their target price on shares of 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. Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Oppenheimer boosted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Stock Down 0.9 %

NYSE:CARR traded down $0.69 during trading hours on Tuesday, reaching $75.60. 817,459 shares of the stock were exchanged, compared to its average volume of 4,135,563. The stock has a market cap of $67.83 billion, a PE ratio of 19.31, a PEG ratio of 2.75 and a beta of 1.34. Carrier Global Co. has a twelve month low of $50.67 and a twelve month high of $83.32. The firm has a 50 day moving average of $77.26 and a 200 day moving average of $69.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. 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 has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board 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.