CapWealth Advisors LLC Trims Position in Carrier Global Co. (NYSE:CARR)

CapWealth Advisors LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,876 shares of the company’s stock after selling 357 shares during the quarter. CapWealth Advisors LLC’s holdings in Carrier Global were worth $6,818,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CARR. Exchange Traded Concepts LLC raised its position in shares of Carrier Global by 69.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after buying an additional 487 shares during the last quarter. Creative Planning grew its stake in Carrier Global by 2.6% during the third quarter. Creative Planning now owns 465,226 shares of the company’s stock valued at $37,446,000 after acquiring an additional 11,655 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Carrier Global in the 3rd quarter valued at $263,000. Good Life Advisors LLC purchased a new stake in Carrier Global in the 3rd quarter worth $269,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Carrier Global by 3.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 47,004 shares of the company’s stock valued at $3,783,000 after purchasing an additional 1,577 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

CARR opened at $65.19 on Friday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $58.49 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35. The stock’s 50 day moving average price is $68.34 and its 200-day moving average price is $72.28.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period last year, the business earned $0.53 EPS. On average, equities analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.38%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

CARR has been the topic of a number of research analyst reports. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Friday. Barclays cut their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Stephens dropped their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.64.

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.