Carrier Global Co. (NYSE:CARR) Shares Bought by Valmark Advisers Inc.

Valmark Advisers Inc. increased its position in Carrier Global Co. (NYSE:CARR) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,774 shares of the company’s stock after acquiring an additional 876 shares during the period. Valmark Advisers Inc.’s holdings in Carrier Global were worth $326,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CARR. FSM Wealth Advisors LLC increased its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC grew its holdings in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares in the last quarter. UMB Bank n.a. raised its stake in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after acquiring an additional 143 shares in the last quarter. Essex Savings Bank boosted its position in Carrier Global by 2.2% during 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 during the period. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after purchasing an additional 147 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 2.2 %

Shares of Carrier Global stock opened at $66.55 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The firm has a market capitalization of $59.71 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The stock’s fifty day moving average is $67.89 and its 200-day moving average is $72.34.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the prior year, the company posted $0.53 EPS. Equities analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. The ex-dividend date was Friday, December 20th. 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 yield of 1.35%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

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.