Mendota Financial Group LLC Sells 549 Shares of Carrier Global Co. (NYSE:CARR)

Mendota Financial Group LLC lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,679 shares of the company’s stock after selling 549 shares during the period. Mendota Financial Group LLC’s holdings in Carrier Global were worth $115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. FMR LLC boosted its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global in the third quarter worth approximately $130,479,000. Point72 Asset Management L.P. purchased a new stake in Carrier Global in the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC lifted its position in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $67.18 on Tuesday. 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 fifty-two week low of $53.13 and a fifty-two week high of $83.32. The business has a 50 day moving average price of $72.45 and a 200-day moving average price of $72.13. The firm has a market cap of $60.28 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group initiated coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Finally, 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 report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

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.