Legacy CG LLC Reduces Position in Carrier Global Co. (NYSE:CARR)

Legacy CG LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 7.1% in the 3rd quarter, Holdings Channel reports. The fund owned 74,228 shares of the company’s stock after selling 5,662 shares during the quarter. Carrier Global accounts for 2.0% of Legacy CG LLC’s holdings, making the stock its 23rd largest holding. Legacy CG LLC’s holdings in Carrier Global were worth $5,975,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norden Group LLC purchased a new stake in shares of Carrier Global in the 1st quarter valued at approximately $235,000. Janney Montgomery Scott LLC grew its stake in shares of Carrier Global by 4.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 161,601 shares of the company’s stock valued at $9,394,000 after buying an additional 6,553 shares during the period. Financial Counselors Inc. grew its stake in shares of Carrier Global by 5.3% in the 1st quarter. Financial Counselors Inc. now owns 8,196 shares of the company’s stock valued at $476,000 after buying an additional 409 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Carrier Global in the 1st quarter valued at approximately $308,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Carrier Global in the 1st quarter valued at approximately $256,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $72.40 on Tuesday. Carrier Global Co. has a twelve month low of $49.62 and a twelve month high of $83.32. The firm’s fifty day simple moving average is $76.90 and its 200-day simple moving average is $68.80. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.61 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. Carrier Global’s payout ratio is 19.24%.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CARR. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.95% of the company’s stock.

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.