Quantum Private Wealth LLC Acquires 252 Shares of Carrier Global Co. (NYSE:CARR)

Quantum Private Wealth LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,271 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Quantum Private Wealth LLC’s holdings in Carrier Global were worth $1,588,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Little House Capital LLC increased its position in shares of Carrier Global by 2.3% during the 4th quarter. Little House Capital LLC now owns 11,752 shares of the company’s stock valued at $802,000 after purchasing an additional 264 shares during the last quarter. TigerOak Management L.L.C. purchased a new stake in Carrier Global during the fourth quarter worth about $286,000. Roxbury Financial LLC bought a new stake in Carrier Global in the fourth quarter worth about $49,000. PineStone Asset Management Inc. boosted its stake in Carrier Global by 2.4% in the fourth quarter. PineStone Asset Management Inc. now owns 4,205,847 shares of the company’s stock valued at $287,091,000 after acquiring an additional 98,751 shares during the last quarter. Finally, Kanawha Capital Management LLC grew its position in shares of Carrier Global by 1.1% during the 4th quarter. Kanawha Capital Management LLC now owns 135,995 shares of the company’s stock valued at $9,283,000 after acquiring an additional 1,515 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Royal Bank of Canada lowered their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Stock Up 2.4 %

Shares of NYSE:CARR opened at $65.19 on Friday. The firm has a fifty day moving average price of $68.17 and a two-hundred day moving average price of $72.30. 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 one year low of $53.13 and a one year high of $83.32. The company has a market cap of $56.61 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) 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 in the prior year, the firm earned $0.53 EPS. Analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s payout ratio is presently 14.33%.

Carrier Global declared that its board has approved a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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.