Center For Asset Management LLC Sells 418 Shares of Carrier Global Co. (NYSE:CARR)

Center For Asset Management LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,727 shares of the company’s stock after selling 418 shares during the quarter. Center For Asset Management LLC’s holdings in Carrier Global were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. Union Bancaire Privee UBP SA purchased a new position in Carrier Global in the fourth quarter worth about $482,000. Blue Trust Inc. grew its position in shares of Carrier Global by 47.3% during the 4th quarter. Blue Trust Inc. now owns 8,774 shares of the company’s stock valued at $599,000 after acquiring an additional 2,816 shares during the period. Tennessee Valley Asset Management Partners increased its stake in shares of Carrier Global by 5.5% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,520 shares of the company’s stock worth $309,000 after purchasing an additional 234 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Carrier Global by 3.6% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 205,646 shares of the company’s stock worth $14,038,000 after purchasing an additional 7,103 shares during the period. Finally, Blue Square Asset Management LLC lifted its position in Carrier Global by 3.1% during the fourth quarter. Blue Square Asset Management LLC now owns 33,585 shares of the company’s stock valued at $2,293,000 after purchasing an additional 1,006 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 0.2 %

Shares of CARR opened at $70.05 on Monday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. 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 company’s fifty day moving average is $71.42 and its 200 day moving average is $72.55. The stock has a market capitalization of $62.85 billion, a PE ratio of 17.74, a P/E/G ratio of 2.26 and a beta of 1.36.

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

Carrier Global Increases Dividend

The firm also recently announced 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 1.28%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. 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 research report on Wednesday, November 13th. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.