Avity Investment Management Inc. Acquires 66,204 Shares of Carrier Global Co. (NYSE:CARR)

Avity Investment Management Inc. boosted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,003 shares of the company's stock after buying an additional 66,204 shares during the quarter. Carrier Global makes up about 1.6% of Avity Investment Management Inc.'s holdings, making the stock its 29th biggest position. Avity Investment Management Inc.'s holdings in Carrier Global were worth $20,956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its stake in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. Essex Savings Bank raised its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after buying an additional 144 shares during the last quarter. Boston Financial Mangement LLC lifted its stake 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 worth $741,000 after buying an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC grew its holdings 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 buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Royal Bank of Canada decreased their price target on Carrier Global from $87.00 to $86.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Mizuho boosted their target price on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and an average price target of $83.93.

Carrier Global Stock Performance

CARR traded up $0.53 during trading on Wednesday, hitting $68.93. The company's stock had a trading volume of 4,877,551 shares, compared to its average volume of 4,345,461. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The business's 50 day simple moving average is $72.34 and its 200-day simple moving average is $72.17. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $61.85 billion, a PE ratio of 17.45, a P/E/G ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.31%. Carrier Global's payout ratio is 22.78%.

Carrier Global declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

About Carrier Global

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.