Golden State Wealth Management LLC Makes New $63,000 Investment in Carrier Global Co. (NYSE:CARR)

Golden State Wealth Management LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 915 shares of the company’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at about $28,000. McClarren Financial Advisors Inc. raised its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co bought a new position in Carrier Global during the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new position in Carrier Global during the 3rd quarter worth approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in Carrier Global during the third quarter valued at approximately $50,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $66.35 on Tuesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market capitalization of $59.53 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50-day moving average of $69.19 and a 200-day moving average of $72.40.

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

Carrier Global Increases Dividend

The business 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 is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. Carrier Global’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho lifted their price target 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. Citigroup reduced their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lowered their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global 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.