Miracle Mile Advisors LLC Takes $2.21 Million Position in Carrier Global Co. (NYSE:CARR)

Miracle Mile Advisors LLC acquired a new position in Carrier Global Co. (NYSE:CARR) during the fourth quarter, Holdings Channel.com reports. The firm acquired 32,420 shares of the company’s stock, valued at approximately $2,213,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC increased its position in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the last quarter. Essex Savings Bank raised its position in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in shares of Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC grew its position in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CARR shares. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. Finally, Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $84.36.

Carrier Global Trading Up 1.0 %

Carrier Global stock opened at $67.18 on Tuesday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. 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 capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.73 and a beta of 1.36. The firm has a 50-day moving average price of $72.45 and a two-hundred day moving average price of $72.13.

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

Carrier Global Increases Dividend

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

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.