Private Trust Co. NA Has $886,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Private Trust Co. NA lifted its position in Carrier Global Co. (NYSE:CARR) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,004 shares of the company’s stock after acquiring an additional 2,086 shares during the period. Private Trust Co. NA’s holdings in Carrier Global were worth $886,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Carrier Global during the 3rd quarter worth about $78,000. Boston Family Office LLC purchased a new stake in shares of Carrier Global in the third quarter worth approximately $225,000. DRW Securities LLC acquired a new stake in shares of Carrier Global during the third quarter worth approximately $748,000. Concentric Wealth Management LLC purchased a new position in Carrier Global during the third quarter valued at approximately $213,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Carrier Global in the 3rd quarter valued at approximately $793,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Barclays dropped their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a 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, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

CARR opened at $76.91 on Wednesday. The stock’s 50 day moving average price is $77.90 and its two-hundred day moving average price is $70.49. The firm has a market capitalization of $69.01 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.77 and a beta of 1.34. 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 12-month low of $51.20 and a 12-month high of $83.32.

Carrier Global announced 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 outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

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.