SpiderRock Advisors LLC Sells 1,115 Shares of Carrier Global Co. (NYSE:CARR)

SpiderRock Advisors LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,616 shares of the company’s stock after selling 1,115 shares during the period. SpiderRock Advisors LLC’s holdings in Carrier Global were worth $1,579,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Carrier Global in the second quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its stake in shares of 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 buying an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter worth $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global in the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of 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 buying an additional 310 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 2.1 %

Shares of CARR stock opened at $76.68 on Friday. Carrier Global Co. has a 52-week low of $50.31 and a 52-week high of $83.32. The stock has a market cap of $68.80 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.71 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a fifty day moving average of $77.19 and a 200-day moving average of $69.19.

Carrier Global announced that its board has authorized a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 dividend yield of 0.99%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is 19.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

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.