Main Street Financial Solutions LLC Takes $251,000 Position in Carrier Global Co. (NYSE:CARR)

Main Street Financial Solutions LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,117 shares of the company’s stock, valued at approximately $251,000.

Other large investors also recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Carrier Global during the 2nd quarter valued at $32,000. Hantz Financial Services Inc. purchased a new stake in Carrier Global during the 2nd quarter worth $35,000. Finally, McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on CARR shares. Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Barclays cut their target price 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. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Finally, Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $74.97 on Friday. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $77.51 and a 200 day simple moving average of $69.66. The company has a market cap of $67.27 billion, a PE ratio of 18.98, a P/E/G ratio of 2.71 and a beta of 1.34.

Carrier Global declared that its Board of Directors has initiated 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 buy up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. Carrier Global’s dividend payout ratio is presently 19.24%.

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.