CapWealth Advisors LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

CapWealth Advisors LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,876 shares of the company’s stock after selling 357 shares during the period. CapWealth Advisors LLC’s holdings in Carrier Global were worth $6,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Coastline Trust Co bought a new stake in shares of Carrier Global during the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the 3rd quarter worth about $44,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Carrier Global in the 3rd quarter worth about $50,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 2.4 %

CARR stock opened at $65.19 on Friday. The business’s 50-day moving average is $68.34 and its two-hundred day moving average is $72.28. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two 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.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the prior year, the business earned $0.53 EPS. As a group, analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global announced that its board has initiated a stock 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 typically a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Stephens lowered their price target 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. Finally, Barclays cut their price objective on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Company 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.