Carrier Global Co. (NYSE:CARR) Shares Purchased by Strategic Advisors LLC

Strategic Advisors LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,526 shares of the company’s stock after purchasing an additional 320 shares during the period. Strategic Advisors LLC’s holdings in Carrier Global were worth $241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CARR. Exchange Traded Concepts LLC boosted its stake in Carrier Global by 69.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after purchasing an additional 487 shares during the period. Creative Planning lifted its stake in shares of Carrier Global by 2.6% in the 3rd quarter. Creative Planning now owns 465,226 shares of the company’s stock worth $37,446,000 after acquiring an additional 11,655 shares during the period. Good Life Advisors LLC acquired a new stake in Carrier Global during the third quarter valued at approximately $269,000. Blue Trust Inc. lifted its stake in Carrier Global by 142.9% during the third quarter. Blue Trust Inc. now owns 5,958 shares of the company’s stock valued at $480,000 after purchasing an additional 3,505 shares during the last quarter. Finally, Chicago Capital LLC lifted its stake in Carrier Global by 1.9% during the third quarter. Chicago Capital LLC now owns 13,153 shares of the company’s stock valued at $1,059,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. UBS Group upgraded shares of 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. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Friday. Royal Bank of Canada dropped their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Trading Up 2.4 %

Shares of Carrier Global stock opened at $65.19 on Tuesday. The stock has a market capitalization of $58.49 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a 50-day simple moving average of $68.01 and a 200 day simple moving average of $72.32. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $0.53 earnings per share. Research analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.38%. 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 presently 22.78%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are 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.