Carrier Global Co. (NYSE:CARR) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,282 shares of the company’s stock after selling 1,099 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Carrier Global were worth $907,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CARR. RFG Advisory LLC increased its stake in Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after purchasing an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC increased its position in Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares in the last quarter. Cerity Partners LLC increased its position in Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after buying an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after buying an additional 11,032 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Carrier Global during the fourth quarter worth $2,213,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 2.4 %

CARR stock opened at $63.60 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a 50-day moving average of $68.78 and a two-hundred day moving average of $72.40. The stock has a market capitalization of $57.06 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the firm earned $0.53 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current year.

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

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Barclays lowered their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised 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. Finally, Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.