Garden State Investment Advisory Services LLC Has $480,000 Stake in Carrier Global Co. (NYSE:CARR)

Garden State Investment Advisory Services LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,950 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Carrier Global were worth $480,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CARR. Franklin Resources Inc. raised its holdings in shares of Carrier Global by 1.2% during the third quarter. Franklin Resources Inc. now owns 224,323 shares of the company’s stock worth $18,545,000 after acquiring an additional 2,596 shares during the period. Peapack Gladstone Financial Corp lifted its position in shares of Carrier Global by 1.4% in the third quarter. Peapack Gladstone Financial Corp now owns 176,984 shares of the company’s stock worth $14,246,000 after purchasing an additional 2,397 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Carrier Global by 280.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 34,717 shares of the company’s stock worth $2,794,000 after purchasing an additional 25,594 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Carrier Global by 0.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 70,379 shares of the company’s stock worth $5,419,000 after buying an additional 237 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Carrier Global by 6.6% in the 3rd quarter. Anchor Investment Management LLC now owns 5,745 shares of the company’s stock valued at $462,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Royal Bank of Canada dropped their price target 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. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Finally, Stephens decreased their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Carrier Global Trading Down 0.3 %

Shares of NYSE CARR traded down $0.19 during trading on Friday, reaching $73.35. The company had a trading volume of 498,346 shares, compared to its average volume of 4,181,438. Carrier Global Co. has a 12 month low of $53.13 and a 12 month 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 stock has a market cap of $65.81 billion, a P/E ratio of 18.62, a PEG ratio of 2.73 and a beta of 1.33. The company’s fifty day moving average price is $76.67 and its 200-day moving average price is $71.23.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has approved a share buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.