TigerOak Management L.L.C. Buys New Shares in Carrier Global Co. (NYSE:CARR)

TigerOak Management L.L.C. bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,194 shares of the company’s stock, valued at approximately $286,000.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co bought a new stake in Carrier Global in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP bought a new stake in Carrier Global in the 3rd quarter valued at $44,000. Finally, Roxbury Financial LLC bought a new stake in Carrier Global in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $65.19 on Friday. The company has a 50 day moving average price of $68.17 and a 200-day moving average price of $72.30. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market capitalization of $56.61 billion, a PE ratio of 16.50, a PEG 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.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 14.33%.

Carrier Global declared that its board has approved a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stephens reduced their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Barclays reduced their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. 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, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price 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.