Apollon Wealth Management LLC Purchases 3,468 Shares of Carrier Global Co. (NYSE:CARR)

Apollon Wealth Management LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,983 shares of the company’s stock after acquiring an additional 3,468 shares during the quarter. Apollon Wealth Management LLC’s holdings in Carrier Global were worth $1,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TFG Advisers LLC raised its position in Carrier Global by 3.6% during the fourth quarter. TFG Advisers LLC now owns 7,751 shares of the company’s stock valued at $529,000 after purchasing an additional 272 shares during the period. Golden State Wealth Management LLC purchased a new stake in Carrier Global during the 4th quarter valued at $63,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Carrier Global by 9.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,514 shares of the company’s stock worth $6,247,000 after buying an additional 7,680 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Carrier Global by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,879,036 shares of the company’s stock worth $128,263,000 after buying an additional 16,993 shares during the last quarter. Finally, Tandem Financial LLC purchased a new position in Carrier Global during the fourth quarter worth $852,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $66.35 on Tuesday. 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 has a 50 day moving average price of $69.19 and a 200-day moving average price of $72.40. 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 $59.53 billion, a PE ratio of 16.80, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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 repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CARR. Wells Fargo & Company lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Royal Bank of Canada dropped their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Barclays decreased their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Eight 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. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Company 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.