Cutler Investment Counsel LLC Sells 2,631 Shares of Carrier Global Co. (NYSE:CARR)

Cutler Investment Counsel LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 1.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 161,322 shares of the company’s stock after selling 2,631 shares during the quarter. Carrier Global comprises approximately 1.6% of Cutler Investment Counsel LLC’s portfolio, making the stock its 22nd largest holding. Cutler Investment Counsel LLC’s holdings in Carrier Global were worth $12,985,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in Carrier Global in the 2nd quarter valued at $25,000. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% in the third 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. Coastline Trust Co purchased a new position in shares of Carrier Global in the 3rd quarter worth about $37,000. Meeder Asset Management Inc. lifted its stake in 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 purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $40,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.6 %

Shares of NYSE CARR traded down $0.44 during trading on Friday, hitting $74.53. 4,600,509 shares of the company traded hands, compared to its average volume of 4,173,714. Carrier Global Co. has a 1 year low of $51.20 and a 1 year high of $83.32. The company has a 50-day moving average price of $77.73 and a 200-day moving average price of $69.78. 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 market capitalization of $66.87 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34.

Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically 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 will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. Carrier Global’s payout ratio is 19.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CARR shares. Wells Fargo & Company reduced their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Stephens dropped their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. 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 report on Wednesday, October 2nd. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada cut their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.31.

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.