Roxbury Financial LLC Acquires New Position in Carrier Global Co. (NYSE:CARR)

Roxbury Financial LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 715 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PineStone Asset Management Inc. grew its holdings in Carrier Global by 2.4% during the 4th quarter. PineStone Asset Management Inc. now owns 4,205,847 shares of the company’s stock valued at $287,091,000 after buying an additional 98,751 shares in the last quarter. Kanawha Capital Management LLC grew its holdings in Carrier Global by 1.1% during the 4th quarter. Kanawha Capital Management LLC now owns 135,995 shares of the company’s stock valued at $9,283,000 after buying an additional 1,515 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Carrier Global by 2.0% during the 4th quarter. V Square Quantitative Management LLC now owns 17,635 shares of the company’s stock valued at $1,204,000 after buying an additional 346 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in Carrier Global by 6.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock valued at $252,000 after buying an additional 210 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in Carrier Global by 1.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock valued at $32,786,000 after buying an additional 8,746 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CARR. Barclays reduced their target price on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Citigroup cut their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Stock Up 2.4 %

Shares of NYSE CARR opened at $65.19 on Friday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. 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 firm’s 50 day simple moving average is $68.17 and its two-hundred day simple moving average is $72.30. The stock has a market capitalization of $56.61 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.53 EPS. As a group, analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

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 dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 14.33%.

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

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.