N.E.W. Advisory Services LLC Sells 169 Shares of Carrier Global Co. (NYSE:CARR)

N.E.W. Advisory Services LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,137 shares of the company’s stock after selling 169 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Carrier Global were worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new position in Carrier Global in the third quarter worth $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co bought a new position in Carrier Global in the third quarter worth $37,000. Country Trust Bank bought a new position in Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global in the third quarter worth $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company reduced their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Finally, Barclays reduced their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Price Performance

NYSE CARR opened at $65.29 on Friday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The stock has a 50-day moving average of $70.75 and a 200 day moving average of $72.47. The company has a market capitalization of $58.58 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.10 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be 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 is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is 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.