Savant Capital LLC cut its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,501 shares of the company's stock after selling 4,755 shares during the quarter. Savant Capital LLC's holdings in Carrier Global were worth $3,106,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its stake in Carrier Global by 69.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company's stock worth $96,000 after purchasing an additional 487 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Carrier Global in the 3rd quarter worth about $201,000. Procyon Advisors LLC boosted its stake in Carrier Global by 13.8% in the 3rd quarter. Procyon Advisors LLC now owns 5,730 shares of the company's stock worth $461,000 after purchasing an additional 697 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Carrier Global in the 3rd quarter worth about $208,000. Finally, Wesbanco Bank Inc. boosted its stake in Carrier Global by 3.3% in the 3rd quarter. Wesbanco Bank Inc. now owns 47,529 shares of the company's stock worth $3,826,000 after purchasing an additional 1,498 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CARR. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. UBS Group upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Stephens dropped their price target on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price on the stock in a research note on Friday. Finally, Robert W. Baird lowered their target price 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. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $82.64.
Check Out Our Latest Stock Report on CARR
Carrier Global Stock Performance
Shares of NYSE:CARR traded up $1.52 during trading on Friday, hitting $65.19. The company's stock had a trading volume of 6,750,573 shares, compared to its average volume of 5,689,759. The company has a 50-day moving average of $68.17 and a 200-day moving average of $72.26. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market cap of $56.61 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35.
Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $0.53 earnings per share. On average, sell-side analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current year.
Carrier Global Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.38%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global's dividend payout ratio is currently 14.33%.
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 shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.
About Carrier Global
(
Free Report)
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.
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