Kestra Private Wealth Services LLC Boosts Position in Carrier Global Co. (NYSE:CARR)

Kestra Private Wealth Services LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,980 shares of the company’s stock after purchasing an additional 805 shares during the period. Kestra Private Wealth Services LLC’s holdings in Carrier Global were worth $1,296,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Howland Capital Management LLC boosted its holdings in shares of Carrier Global by 5.7% in the 4th quarter. Howland Capital Management LLC now owns 5,852 shares of the company’s stock valued at $401,000 after buying an additional 316 shares in the last quarter. Quotient Wealth Partners LLC increased its position in shares of Carrier Global by 1.8% during the fourth quarter. Quotient Wealth Partners LLC now owns 14,702 shares of the company’s stock worth $1,004,000 after purchasing an additional 253 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Carrier Global by 15.1% in the 4th quarter. Empowered Funds LLC now owns 55,962 shares of the company’s stock valued at $3,820,000 after purchasing an additional 7,358 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Carrier Global by 15.4% in the 4th quarter. Apollon Wealth Management LLC now owns 25,983 shares of the company’s stock valued at $1,774,000 after purchasing an additional 3,468 shares during the period. Finally, TFG Advisers LLC lifted its stake in Carrier Global by 3.6% in the fourth quarter. TFG Advisers LLC now owns 7,751 shares of the company’s stock valued at $529,000 after buying an additional 272 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Mizuho raised their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays cut their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Finally, 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 report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Stock Down 2.4 %

Shares of NYSE:CARR opened at $63.60 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $57.06 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.11 and a beta of 1.35. The stock’s 50-day moving average price is $68.78 and its two-hundred day moving average price is $72.40. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $0.53 EPS. On average, research analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.