New Century Financial Group LLC Purchases New Holdings in Carrier Global Co. (NYSE:CARR)

New Century Financial Group LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,304 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors also recently made changes to their positions in CARR. AE Wealth Management LLC increased its stake in shares of Carrier Global by 30.6% in the second quarter. AE Wealth Management LLC now owns 9,026 shares of the company’s stock worth $569,000 after buying an additional 2,115 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Carrier Global by 56.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 55,593 shares of the company’s stock worth $3,507,000 after purchasing an additional 20,031 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Carrier Global by 59.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock valued at $2,264,000 after purchasing an additional 13,385 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Carrier Global during the second quarter worth about $3,701,000. Finally, Marathon Capital Management grew its stake in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays cut their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. 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 target price for the company. Mizuho raised their price target 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. Finally, Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $70.05 on Friday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a market cap of $62.85 billion, a PE ratio of 17.74, a P/E/G ratio of 2.26 and a beta of 1.36. The stock has a 50 day simple moving average of $71.50 and a 200-day simple moving average of $72.37. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

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 paid a $0.225 dividend. 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. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically 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.