Bartlett & CO. Wealth Management LLC Acquires 742 Shares of Carrier Global Co. (NYSE:CARR)

Bartlett & CO. Wealth Management LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 29,560 shares of the company’s stock after purchasing an additional 742 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Carrier Global were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Carrier Global during the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global during the 3rd quarter valued at $37,000. Country Trust Bank bought a new position in shares of Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the third quarter worth $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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 on the stock in a research note on Monday, October 28th. Barclays lowered their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, November 13th. Finally, Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

NYSE:CARR opened at $69.77 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm has a market cap of $62.60 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.27 and a beta of 1.36. The business has a 50 day moving average price of $71.61 and a 200-day moving average price of $72.39.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors 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. Shareholders of record on Friday, December 20th will be given 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 dividend on an annualized basis and a dividend yield of 1.29%. Carrier Global’s payout ratio is presently 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.