Sawgrass Asset Management LLC Sells 1,099 Shares of Carrier Global Co. (NYSE:CARR)

Sawgrass Asset Management LLC reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,282 shares of the company’s stock after selling 1,099 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Carrier Global were worth $907,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CARR. FSA Wealth Management LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $28,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $37,000. Capital Performance Advisors LLP bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $50,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup cut their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho upped their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company decreased their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Trading Down 2.4 %

Carrier Global stock opened at $63.60 on Thursday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The stock has a market cap of $57.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50-day moving average of $68.78 and a two-hundred day moving average of $72.40.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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 20.52% and a net margin of 14.98%. During the same period last year, the company earned $0.53 EPS. On average, research analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global declared that its board has approved a share 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 reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.42%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

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.