Burns J W & Co. Inc. NY Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Burns J W & Co. Inc. NY cut its holdings in Carrier Global Co. (NYSE:CARR) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,942 shares of the company’s stock after selling 230 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Carrier Global were worth $747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the period. Geode Capital Management LLC boosted its holdings in Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after buying an additional 289,439 shares during the last quarter. Fisher Asset Management LLC increased its stake in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after buying an additional 269,538 shares in the last quarter. FMR LLC raised its holdings in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after acquiring an additional 110,988 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup dropped their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Barclays cut their price objective on shares of 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 dropped their price target 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, Mizuho raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.36.

Carrier Global Stock Up 1.0 %

NYSE CARR traded up $0.67 during trading hours on Monday, hitting $67.18. 5,861,269 shares of the company were exchanged, compared to its average volume of 4,359,903. The company has a 50 day moving average of $72.55 and a two-hundred day moving average of $72.10. 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 firm has a market cap of $60.28 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Carrier Global announced that its board has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.