Monarch Capital Management Inc. Has $2.63 Million Position in Carrier Global Co. (NYSE:CARR)

Monarch Capital Management Inc. cut its position in shares of Carrier Global Co. (NYSE:CARR) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,456 shares of the company’s stock after selling 625 shares during the period. Monarch Capital Management Inc.’s holdings in Carrier Global were worth $2,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its stake in Carrier Global by 57.7% in the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after acquiring an additional 34,487 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Carrier Global by 8.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 89,024 shares of the company’s stock valued at $5,618,000 after purchasing an additional 7,015 shares during the last quarter. Blair William & Co. IL raised its position in shares of Carrier Global by 2.8% in the second quarter. Blair William & Co. IL now owns 153,893 shares of the company’s stock valued at $9,708,000 after purchasing an additional 4,135 shares during the period. XTX Topco Ltd lifted its stake in shares of Carrier Global by 27.9% during the 2nd quarter. XTX Topco Ltd now owns 21,754 shares of the company’s stock worth $1,372,000 after buying an additional 4,747 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Carrier Global by 10.4% during the 2nd quarter. Brighton Jones LLC now owns 5,790 shares of the company’s stock worth $365,000 after buying an additional 544 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

CARR stock opened at $69.74 on Friday. The company’s 50-day moving average price is $71.96 and its two-hundred day moving average price is $72.18. The firm has a market cap of $62.57 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CARR shares. Barclays lowered their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.