Burns J W & Co. Inc. NY Decreases Stake in Carrier Global Co. (NYSE:CARR)

Burns J W & Co. Inc. NY lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,942 shares of the company’s stock after selling 230 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Carrier Global were worth $747,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cooper Financial Group grew its position in Carrier Global by 8.3% in the fourth quarter. Cooper Financial Group now owns 3,561 shares of the company’s stock worth $243,000 after acquiring an additional 272 shares in the last quarter. Wedmont Private Capital lifted its position in Carrier Global by 2.5% in the fourth quarter. Wedmont Private Capital now owns 21,298 shares of the company’s stock worth $1,416,000 after buying an additional 519 shares during the last quarter. Czech National Bank boosted its stake in Carrier Global by 5.8% during the fourth quarter. Czech National Bank now owns 180,919 shares of the company’s stock worth $12,350,000 after buying an additional 9,892 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Carrier Global by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 477,457 shares of the company’s stock valued at $32,591,000 after acquiring an additional 2,097 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in shares of Carrier Global by 219.1% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $103,000 after acquiring an additional 1,034 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CARR shares. Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Wells Fargo & Company decreased their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Carrier Global Stock Performance

Shares of Carrier Global stock traded up $0.67 during trading on Monday, hitting $67.18. 5,861,269 shares of the company’s stock were exchanged, compared to its average volume of 4,359,903. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.73 and a beta of 1.36. The business has a 50-day simple moving average of $72.55 and a 200-day simple moving average of $72.10.

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

Carrier Global Increases Dividend

The business also recently declared 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 is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 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.