TFC Financial Management Inc. Buys 428 Shares of Carrier Global Co. (NYSE:CARR)

TFC Financial Management Inc. increased its stake in Carrier Global Co. (NYSE:CARR) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,330 shares of the company’s stock after purchasing an additional 428 shares during the quarter. TFC Financial Management Inc.’s holdings in Carrier Global were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC raised its holdings in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Carrier Global during the 3rd quarter valued at $130,479,000. Mizuho Securities USA LLC raised its holdings in Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares during the period. International Assets Investment Management LLC raised its holdings in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares during the period. Finally, State Street Corp raised its holdings in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after acquiring an additional 469,108 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday. Eight investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Stock Performance

NYSE CARR opened at $63.60 on Thursday. The company has a 50-day simple moving average of $68.78 and a two-hundred day simple moving average of $72.40. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. 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 $57.06 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter last year, the business earned $0.53 earnings per share. On average, equities analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently declared 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 1.42%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its board has initiated 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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.