Hummer Financial Advisory Services Inc Takes $211,000 Position in Carrier Global Co. (NYSE:CARR)

Hummer Financial Advisory Services Inc bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,076 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Acadian Asset Management LLC acquired a new position in Carrier Global in the second quarter worth about $903,000. American Century Companies Inc. raised its holdings in shares of Carrier Global by 57.7% in the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock worth $5,946,000 after buying an additional 34,487 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. Parallel Advisors LLC boosted its stake in Carrier Global by 6.7% in the 2nd quarter. Parallel Advisors LLC now owns 17,656 shares of the company’s stock valued at $1,114,000 after buying an additional 1,103 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new stake in Carrier Global in the second quarter valued at $267,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stephens reduced their target price on shares of 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. The Goldman Sachs Group started coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Barclays dropped their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.36.

Carrier Global Stock Up 1.0 %

Shares of NYSE:CARR opened at $67.18 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $60.28 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.73 and a beta of 1.36. The company has a 50 day moving average of $72.45 and a 200-day moving average of $72.13. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Carrier Global

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.