FORA Capital LLC Trims Stake in Carrier Global Co. (NYSE:CARR)

FORA Capital LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 42.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,439 shares of the company’s stock after selling 17,835 shares during the period. FORA Capital LLC’s holdings in Carrier Global were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CARR. PineStone Asset Management Inc. grew its holdings in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. FMR LLC grew its stake in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Carrier Global during the second quarter worth approximately $58,415,000. Mizuho Securities USA LLC raised its stake in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares during the period. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CARR shares. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Mizuho upped their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird lowered their price target 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. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Down 0.1 %

Carrier Global stock opened at $76.89 on Thursday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The business has a fifty day moving average price of $77.87 and a 200-day moving average price of $70.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $68.99 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.83 and a beta of 1.34.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio is presently 19.24%.

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

Carrier Global Company 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.