Carrier Global Co. (NYSE:CARR) Shares Purchased by Pure Financial Advisors LLC

Pure Financial Advisors LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,652 shares of the company’s stock after purchasing an additional 425 shares during the quarter. Pure Financial Advisors LLC’s holdings in Carrier Global were worth $318,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CARR. FSA Wealth Management LLC purchased a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. grew its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global during the third quarter worth about $37,000. Country Trust Bank purchased a new stake in shares of Carrier Global in the 3rd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the 3rd quarter valued at about $44,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARR has been the topic of several research analyst reports. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Northcoast Research initiated coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Stephens lowered their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 0.8 %

Shares of NYSE CARR opened at $70.01 on Thursday. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.24 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 has a 50-day moving average price of $71.74 and a 200 day moving average price of $72.40. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its board has approved a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s 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.