Rockefeller Capital Management L.P. Has $95.87 Million Holdings in Carrier Global Co. (NYSE:CARR)

Rockefeller Capital Management L.P. lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 21.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,191,632 shares of the company’s stock after selling 319,526 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Carrier Global were worth $95,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Frank Rimerman Advisors LLC raised its holdings in Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares in the last quarter. Kintegral Advisory LLC raised its holdings in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after buying an additional 8,705 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $7,720,000. Vista Investment Partners LLC acquired a new stake in Carrier Global in the 2nd quarter valued at $744,000. Finally, Janus Henderson Group PLC grew its position in Carrier Global by 28.8% in the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock valued at $17,114,000 after acquiring an additional 65,796 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $76.90 on Friday. 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’s 50 day moving average price is $77.80 and its two-hundred day moving average price is $70.58. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.85 and a beta of 1.34.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CARR shares. Royal Bank of Canada cut their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective 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. Mizuho raised their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Finally, Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Eight 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.31.

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.