Cumberland Partners Ltd Has $4.47 Million Holdings in Carrier Global Co. (NYSE:CARR)

Cumberland Partners Ltd trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 21.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,465 shares of the company’s stock after selling 18,260 shares during the period. Cumberland Partners Ltd’s holdings in Carrier Global were worth $4,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. Coastline Trust Co bought a new position in Carrier Global during the third quarter worth about $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global during the third quarter worth approximately $44,000. Ashton Thomas Securities LLC bought a new stake in Carrier Global in the third quarter valued at approximately $50,000. Finally, GHP Investment Advisors Inc. lifted its position in shares of Carrier Global by 67.2% in the third quarter. GHP Investment Advisors Inc. now owns 687 shares of the company’s stock valued at $55,000 after buying an additional 276 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays decreased their target price on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Robert W. Baird reduced their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Down 0.9 %

CARR stock opened at $66.02 on Thursday. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The business has a 50-day simple moving average of $67.73 and a 200 day simple moving average of $72.29. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market cap of $57.33 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts anticipate that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. Carrier Global’s dividend payout ratio (DPR) is presently 14.33%.

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

Carrier Global Company 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.