Union Bancaire Privee UBP SA Takes $482,000 Position in Carrier Global Co. (NYSE:CARR)

Union Bancaire Privee UBP SA acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,386 shares of the company’s stock, valued at approximately $482,000.

A number of other hedge funds have also made changes to their positions in CARR. FSM Wealth Advisors LLC raised its position in Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased 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 buying an additional 137 shares during the period. UMB Bank n.a. increased its stake in shares of Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after buying an additional 143 shares during the period. Essex Savings Bank increased its stake in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares during the period. Finally, Boston Financial Mangement LLC increased its stake in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CARR shares. Barclays lowered their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lowered their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 0.2 %

NYSE:CARR opened at $67.32 on Wednesday. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $60.40 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.26 and a beta of 1.36. The stock has a 50-day moving average price of $71.28 and a two-hundred day moving average price of $72.56.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

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

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.