AdvisorNet Financial Inc Sells 7,322 Shares of Carrier Global Co. (NYSE:CARR)

AdvisorNet Financial Inc trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,226 shares of the company’s stock after selling 7,322 shares during the period. AdvisorNet Financial Inc’s holdings in Carrier Global were worth $5,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the period. Geode Capital Management LLC lifted its stake in Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after purchasing an additional 289,439 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after purchasing an additional 269,538 shares in the last quarter. FMR LLC increased its stake in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after buying an additional 110,988 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

CARR stock opened at $67.18 on Tuesday. The firm has a market cap of $60.28 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $72.45 and a 200-day moving average price of $72.13. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase 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 initiated a share buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of recent analyst reports. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Stephens decreased their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $84.36.

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.