3,498 Shares in Carrier Global Co. (NYSE:CARR) Bought by Advisory Alpha LLC

Advisory Alpha LLC purchased a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,498 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds have also bought and sold shares of CARR. Cerity Partners LLC lifted its position in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after acquiring an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Carrier Global in the fourth quarter valued at about $2,213,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Carrier Global in the third quarter valued at about $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Carrier Global in the third quarter worth about $793,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.4 %

Carrier Global stock opened at $69.77 on Friday. The business has a fifty day moving average of $71.61 and a two-hundred day moving average of $72.39. 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 cap of $62.60 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.27 and a beta of 1.36. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32.

Carrier Global announced that its Board of Directors 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 buy up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 22.78%.

Analyst Ratings Changes

A number of research firms recently commented on CARR. 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. Barclays decreased their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer upped 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. Finally, JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.