AdvisorNet Financial Inc Sells 7,322 Shares of Carrier Global Co. (NYSE:CARR)

AdvisorNet Financial Inc lowered its holdings in Carrier Global Co. (NYSE:CARR) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 80,226 shares of the company’s stock after selling 7,322 shares during the quarter. AdvisorNet Financial Inc’s holdings in Carrier Global were worth $5,476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. FSM Wealth Advisors LLC boosted its position in shares of Carrier Global by 2.2% during the third 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 last quarter. Meridian Wealth Management LLC boosted its holdings in 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 acquiring an additional 137 shares during the last quarter. Essex Savings Bank grew its stake 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 worth $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC raised its holdings 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 last quarter. Finally, Sittner & Nelson LLC lifted its position in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $67.18 on Tuesday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The stock’s 50-day simple moving average is $72.45 and its 200 day simple moving average is $72.13. 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 capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Wall Street Analyst Weigh In

Several research firms have commented on CARR. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup decreased their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $84.36.

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.