FSA Wealth Management LLC Buys New Shares in Carrier Global Co. (NYSE:CARR)

FSA Wealth Management LLC purchased a new position in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 353 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FSM Wealth Advisors LLC grew its holdings in shares of Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC lifted its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. Essex Savings Bank boosted its stake in Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares in the last quarter. Boston Financial Mangement LLC increased its holdings in Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the period. Finally, Sittner & Nelson LLC raised its stake in shares of Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CARR. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Price Performance

Shares of CARR stock opened at $77.37 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $69.42 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.86 and a beta of 1.34. The firm’s 50 day moving average is $77.75 and its 200-day moving average is $70.75. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.