Carrier Global Co. (NYSE:CARR) Shares Sold by Swedbank AB

Swedbank AB reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 403,798 shares of the company’s stock after selling 5,300 shares during the period. Swedbank AB’s holdings in Carrier Global were worth $27,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. FSM Wealth Advisors LLC lifted its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC boosted its position in shares of 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 in the last quarter. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 143 shares during the period. Essex Savings Bank increased its holdings 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. Finally, Boston Financial Mangement LLC lifted its stake in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada dropped 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. Citigroup reduced their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. 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’s stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Up 1.7 %

Shares of NYSE CARR opened at $65.90 on Friday. The stock has a market capitalization of $59.12 billion, a PE ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36. 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 fifty day moving average of $70.95 and a 200-day moving average of $72.51. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend yield of 1.37%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its board has approved a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

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.