Carrier Global Co. (NYSE:CARR) Shares Sold by Hartline Investment Corp

Hartline Investment Corp lessened its stake in Carrier Global Co. (NYSE:CARR) by 60.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,221 shares of the company’s stock after selling 49,692 shares during the quarter. Hartline Investment Corp’s holdings in Carrier Global were worth $2,199,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Carrier Global during the third quarter worth about $28,000. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global during the third quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in Carrier Global during the third quarter worth about $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Carrier Global during the third quarter worth about $50,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. Citigroup dropped their price objective 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. Stephens decreased their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their target price on shares of 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Up 3.4 %

CARR stock opened at $66.35 on Tuesday. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The firm has a market cap of $59.53 billion, a PE ratio of 16.80, a P/E/G ratio of 2.11 and a beta of 1.35. The firm has a 50 day simple moving average of $69.19 and a 200 day simple moving average of $72.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

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

Carrier Global Increases Dividend

The firm also recently announced 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. 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. This represents a $0.90 annualized dividend and a yield of 1.36%. Carrier Global’s dividend payout ratio is currently 22.78%.

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.