Catalina Capital Group LLC Acquires 172 Shares of Carrier Global Co. (NYSE:CARR)

Catalina Capital Group LLC increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Catalina Capital Group LLC’s holdings in Carrier Global were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CARR. RFG Advisory LLC raised its position in shares of Carrier Global by 36.2% during the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the last quarter. Cerity Partners LLC increased its position in Carrier Global by 39.0% during 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 during the last quarter. Daiwa Securities Group Inc. raised its stake 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 during the period. Miracle Mile Advisors LLC bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $2,213,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Carrier Global during the third quarter worth $1,068,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CARR. Stephens decreased their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada cut their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 3.6 %

Shares of NYSE:CARR opened at $63.00 on Tuesday. The firm has a market cap of $56.52 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.12 and a beta of 1.36. The stock’s 50-day moving average price is $70.51 and its two-hundred day moving average price is $72.50. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has approved a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared 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 is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.43%. Carrier Global’s payout ratio is 22.78%.

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.