Robertson Stephens Wealth Management LLC Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Robertson Stephens Wealth Management LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 61.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,571 shares of the company’s stock after selling 10,455 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Carrier Global were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global in the third quarter worth $28,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% in 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 last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global in the third quarter worth $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the third quarter worth $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Carrier Global in the third quarter worth $50,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.6 %

CARR stock opened at $64.17 on Friday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The business’s 50-day moving average is $69.45 and its two-hundred day moving average is $72.35. 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 market cap of $57.58 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.12 and a beta of 1.35.

Carrier Global declared that its board has approved a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.40%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CARR. Stephens cut their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Citigroup dropped their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.