Allworth Financial LP Raises Stake in Carrier Global Co. (NYSE:CARR)

Allworth Financial LP boosted its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1,657.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 167,653 shares of the company's stock after purchasing an additional 158,114 shares during the period. Allworth Financial LP's holdings in Carrier Global were worth $11,741,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CARR. RFG Advisory LLC lifted its stake in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company's stock worth $489,000 after acquiring an additional 1,904 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company's stock worth $1,410,000 after acquiring an additional 19,018 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company's stock worth $8,084,000 after acquiring an additional 11,032 shares during the period. Cerity Partners LLC lifted its stake in shares of Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company's stock worth $11,013,000 after acquiring an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth $2,213,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent analyst reports. Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price for the company in a research note on Friday, February 14th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Citigroup reduced their price objective on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $82.64.

Carrier Global Price Performance

NYSE:CARR traded down $0.57 during mid-day trading on Wednesday, hitting $66.02. 5,168,329 shares of the company's stock traded hands, compared to its average volume of 5,938,870. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The firm's 50 day simple moving average is $67.73 and its 200 day simple moving average is $72.29. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. 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 - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 quarter in the prior year, the company posted $0.53 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.98 EPS for the current year.

Carrier Global Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, December 20th. This is an increase 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 1.36%. Carrier Global's payout ratio is 14.33%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Carrier Global 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.