Tennessee Valley Asset Management Partners Increases Stake in Carrier Global Co. (NYSE:CARR)

Tennessee Valley Asset Management Partners raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,520 shares of the company’s stock after acquiring an additional 234 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in Carrier Global were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Cerity Partners LLC raised its stake in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares during the period. Daiwa Securities Group Inc. grew its holdings in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after buying an additional 11,032 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at about $2,213,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Carrier Global in the third quarter worth about $1,068,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Carrier Global in the third quarter valued at approximately $793,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $70.05 on Monday. The firm has a market cap of $62.85 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.26 and a beta of 1.36. The firm’s fifty day moving average is $71.42 and its 200 day moving average is $72.49. Carrier Global Co. has a 52 week low of $53.13 and a 52 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.

Carrier Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Ratings Changes

CARR has been the topic of a number of analyst reports. Stephens decreased 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. Oppenheimer upped their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Eight equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.