Carrier Global Co. (NYSE:CARR) Shares Sold by KBC Group NV

KBC Group NV reduced its stake in Carrier Global Co. (NYSE:CARR) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,077 shares of the company’s stock after selling 1,736 shares during the quarter. KBC Group NV’s holdings in Carrier Global were worth $11,814,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after buying an additional 137 shares in the last quarter. UMB Bank n.a. lifted its holdings in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after buying an additional 143 shares during the last quarter. Essex Savings Bank grew 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 worth $532,000 after acquiring an additional 144 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its position 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 acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $64.78 on Thursday. 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 Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company’s fifty day moving average is $71.14 and its 200-day moving average is $72.57. The firm has a market cap of $58.12 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.

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

Carrier Global Increases Dividend

The business 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 represents a $0.90 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Eight research 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. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.