Cumberland Partners Ltd Has $4.47 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Cumberland Partners Ltd decreased its position in Carrier Global Co. (NYSE:CARR) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,465 shares of the company’s stock after selling 18,260 shares during the period. Cumberland Partners Ltd’s holdings in Carrier Global were worth $4,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $28,000. Coastline Trust Co bought a new position in Carrier Global in the third quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Carrier Global during the 3rd quarter worth $44,000. Roxbury Financial LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at $49,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $50,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada lowered their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. 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 target price for the company. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Stock Performance

CARR opened at $66.02 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market capitalization of $57.33 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.90 and a beta of 1.35. The business’s 50-day moving average price is $67.73 and its two-hundred day moving average price is $72.29. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the business posted $0.53 EPS. Equities analysts expect that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.36%. Carrier Global’s dividend payout ratio is presently 14.33%.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.