J.W. Cole Advisors Inc. Boosts Holdings in Carrier Global Co. (NYSE:CARR)

J.W. Cole Advisors Inc. raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,469 shares of the company’s stock after purchasing an additional 464 shares during the period. J.W. Cole Advisors Inc.’s holdings in Carrier Global were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. FSM Wealth Advisors LLC grew its position in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares during the period. Essex Savings Bank increased its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after buying an additional 147 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Up 2.2 %

Shares of NYSE CARR opened at $66.55 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $67.89 and its two-hundred day moving average price is $72.34. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The stock has a market capitalization of $59.71 billion, a P/E ratio of 16.85, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter last year, the company posted $0.53 EPS. On average, analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

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

Wall Street Analysts Forecast Growth

CARR has been the subject of several research reports. 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 for the company. JPMorgan Chase & Co. lowered their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Barclays reduced their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

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.