J. W. Coons Advisors LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

J. W. Coons Advisors LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, Holdings Channel.com reports. The fund bought 2,700 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently modified their holdings of the company. GLOBALT Investments LLC GA increased its stake in Carrier Global by 16.3% in the 3rd quarter. GLOBALT Investments LLC GA now owns 16,746 shares of the company’s stock worth $1,348,000 after acquiring an additional 2,351 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Carrier Global in the third quarter valued at $373,000. Prudent Man Advisors LLC bought a new stake in Carrier Global in the third quarter worth $879,000. Swiss National Bank raised its stake in Carrier Global by 0.4% during the third quarter. Swiss National Bank now owns 2,406,985 shares of the company’s stock valued at $193,738,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC bought a new position in Carrier Global during the third quarter valued at $208,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Mizuho lifted 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. Wells Fargo & Company reduced their target price on shares of 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. Finally, Robert W. Baird dropped 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 note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Performance

Shares of CARR stock opened at $74.53 on Monday. The firm has a market cap of $66.87 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.68 and a beta of 1.34. Carrier Global Co. has a 52-week low of $51.20 and a 52-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 company’s 50 day moving average is $77.73 and its 200 day moving average is $69.89.

Carrier Global Dividend Announcement

The business 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 $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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.