Stephens Inc. AR Sells 3,527 Shares of Carrier Global Co. (NYSE:CARR)

Stephens Inc. AR decreased its holdings in Carrier Global Co. (NYSE:CARR) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,857 shares of the company’s stock after selling 3,527 shares during the period. Stephens Inc. AR’s holdings in Carrier Global were worth $4,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. RFG Advisory LLC grew its position in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after buying an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,018 shares during the last quarter. Cerity Partners LLC increased its position in shares of Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of 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 purchasing an additional 11,032 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $66.35 on Tuesday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. 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 stock has a market cap of $59.53 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The business has a 50-day simple moving average of $69.19 and a 200-day simple moving average of $72.40.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are 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 issued a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. Carrier Global’s payout ratio is presently 22.78%.

Analyst Ratings Changes

Several brokerages recently issued reports on CARR. Citigroup reduced their target price 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. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays lowered their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.