N.E.W. Advisory Services LLC Sells 169 Shares of Carrier Global Co. (NYSE:CARR)

N.E.W. Advisory Services LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,137 shares of the company’s stock after selling 169 shares during the period. N.E.W. Advisory Services LLC’s holdings in Carrier Global were worth $897,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. FSM Wealth Advisors LLC lifted its stake in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. lifted its stake in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after acquiring an additional 143 shares in the last quarter. Essex Savings Bank lifted its stake in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares in the last quarter. Finally, Boston Financial Mangement LLC lifted its stake in Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 1.0 %

CARR stock opened at $65.29 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 firm has a market capitalization of $58.58 billion, a PE ratio of 16.53, a PEG ratio of 2.10 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. The stock has a 50-day simple moving average of $70.75 and a two-hundred day simple moving average of $72.47.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. 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 payout ratio is presently 22.78%.

Carrier Global declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Wells Fargo & Company lowered their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.