Mendota Financial Group LLC Reduces Stake in Carrier Global Co. (NYSE:CARR)

Mendota Financial Group LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,679 shares of the company’s stock after selling 549 shares during the period. Mendota Financial Group LLC’s holdings in Carrier Global were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Carrier Global during the second quarter worth about $903,000. American Century Companies Inc. lifted its holdings in shares of Carrier Global by 57.7% during the second quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after purchasing an additional 34,487 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Carrier Global by 6.7% in the 2nd quarter. Parallel Advisors LLC now owns 17,656 shares of the company’s stock worth $1,114,000 after purchasing an additional 1,103 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth approximately $267,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $67.18 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a market cap of $60.28 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. The stock’s fifty day moving average price is $72.45 and its 200-day moving average price is $72.13.

Carrier Global Increases Dividend

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

Carrier Global declared that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on CARR shares. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Stephens lowered their price target on 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. Barclays cut their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. Eight 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.36.

Carrier Global Company 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.