Dover Advisors LLC Cuts Holdings in Carrier Global Co. (NYSE:CARR)

Dover Advisors LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,762 shares of the company’s stock after selling 250 shares during the period. Dover Advisors LLC’s holdings in Carrier Global were worth $735,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in Carrier Global in the 3rd quarter worth about $28,000. Coastline Trust Co purchased a new stake in shares of Carrier Global during the 3rd quarter valued at about $37,000. Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter worth approximately $44,000. Roxbury Financial LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $49,000. Finally, Centricity Wealth Management LLC bought a new position in Carrier Global during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Performance

CARR opened at $66.10 on Monday. The company has a 50 day simple moving average of $67.46 and a two-hundred day simple moving average of $72.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The firm has a market cap of $57.39 billion, a P/E ratio of 10.52, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company posted $0.53 earnings per share. Equities analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 14.33%.

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.