Hummer Financial Advisory Services Inc Purchases New Position in Carrier Global Co. (NYSE:CARR)

Hummer Financial Advisory Services Inc acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,076 shares of the company’s stock, valued at approximately $211,000.

Several other large investors have also recently bought and sold shares of CARR. FSA Wealth Management LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at about $28,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Coastline Trust Co acquired a new position in shares of Carrier Global in the third quarter valued at approximately $37,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the period. Finally, Country Trust Bank bought a new stake in Carrier Global in the 3rd quarter valued at $40,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $67.18 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $60.28 billion, a price-to-earnings ratio of 17.01, a P/E/G 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. The firm’s 50-day simple moving average is $72.45 and its 200 day simple moving average is $72.13.

Carrier Global declared that its board has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $84.36.

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.