Montecito Bank & Trust Has $647,000 Stake in Carrier Global Co. (NYSE:CARR)

Montecito Bank & Trust boosted its holdings in Carrier Global Co. (NYSE:CARR) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,034 shares of the company’s stock after buying an additional 372 shares during the period. Montecito Bank & Trust’s holdings in Carrier Global were worth $647,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CARR. Olistico Wealth LLC bought a new position in Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. boosted its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the second quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new stake in Carrier Global in the second quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Down 0.3 %

NYSE:CARR opened at $75.13 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a twelve month low of $50.31 and a twelve month high of $83.32. The company has a market cap of $67.41 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.60 and a beta of 1.34. The business has a 50 day moving average price of $77.03 and a two-hundred day moving average price of $68.99.

Carrier Global declared that its board has approved a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 19.24%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays dropped their price target 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. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seven investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

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.