Carrier Global Co. (NYSE:CARR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Carrier Global Co. (NYSE:CARR) by 56.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,102 shares of the company’s stock after selling 490,757 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carrier Global were worth $30,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during 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 purchased a new stake in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global in the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% during 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 during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $76.90 on Friday. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32. The company has a market cap of $69.00 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.83 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $77.80 and its 200-day moving average price is $70.58.

Carrier Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is presently 19.24%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CARR. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company decreased their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.