Nicholas Hoffman & Company LLC. Buys Shares of 2,644 Carrier Global Co. (NYSE:CARR)

Nicholas Hoffman & Company LLC. acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,644 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently modified their holdings of CARR. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Carrier Global during the 2nd quarter valued at about $58,415,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% during the 3rd 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 last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $73.60 on Thursday. The stock’s fifty day moving average is $76.80 and its two-hundred day moving average is $68.32. The company has a market capitalization of $66.44 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52 week low of $47.12 and a 52 week high of $83.32.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

Carrier Global announced that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” 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 report on Friday, September 6th. JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.33.

Insider Transactions at Carrier Global

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