Professional Advisory Services Inc. Buys 11,585 Shares of Carrier Global Co. (NYSE:CARR)

Professional Advisory Services Inc. grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,627 shares of the company’s stock after acquiring an additional 11,585 shares during the quarter. Carrier Global comprises approximately 2.8% of Professional Advisory Services Inc.’s portfolio, making the stock its 19th biggest position. Professional Advisory Services Inc.’s holdings in Carrier Global were worth $20,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CARR. Frank Rimerman Advisors LLC increased its holdings in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares in the last quarter. Cerity Partners LLC increased its holdings in Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after buying an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the period. Sheaff Brock Investment Advisors LLC bought a new position in Carrier Global during the 3rd quarter valued at about $1,068,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Carrier Global during the 4th quarter valued at about $2,213,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $69.74 on Friday. The stock has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company’s 50 day moving average is $72.10 and its two-hundred day moving average is $72.13. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. UBS Group raised 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. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eight equities 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 stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.