Carrier Global Co. (NYSE:CARR) Shares Sold by Swedbank AB

Swedbank AB reduced its holdings in Carrier Global Co. (NYSE:CARR) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 403,798 shares of the company’s stock after selling 5,300 shares during the period. Swedbank AB’s holdings in Carrier Global were worth $27,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of Carrier Global by 3.1% in the second quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock valued at $2,208,000 after acquiring an additional 1,058 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Carrier Global by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock valued at $2,542,000 after purchasing an additional 884 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Carrier Global by 29.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,589 shares of the company’s stock worth $920,000 after purchasing an additional 3,344 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Carrier Global by 1.8% during the second quarter. Truist Financial Corp now owns 135,742 shares of the company’s stock worth $8,563,000 after buying an additional 2,432 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Carrier Global in the second quarter valued at about $4,244,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CARR shares. Barclays dropped their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Trading Up 1.7 %

CARR opened at $65.90 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 one year low of $53.13 and a one year high of $83.32. The company has a market cap of $59.12 billion, a P/E ratio of 16.68, a PEG ratio of 2.26 and a beta of 1.36. The business’s 50-day simple moving average is $70.95 and its 200-day simple moving average is $72.51.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.37%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global announced that its board has approved a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.