Cumberland Partners Ltd decreased its position in Carrier Global Co. (NYSE:CARR - Free Report) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,465 shares of the company's stock after selling 18,260 shares during the quarter. Cumberland Partners Ltd's holdings in Carrier Global were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global in the third quarter valued at $28,000. Coastline Trust Co purchased a new stake in Carrier Global in the 3rd quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global during the third quarter worth approximately $44,000. Ashton Thomas Securities LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth $50,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Carrier Global by 67.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 687 shares of the company's stock worth $55,000 after purchasing an additional 276 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
Carrier Global Stock Down 1.5 %
Shares of Carrier Global stock traded down $1.04 during trading on Friday, reaching $66.07. The company had a trading volume of 4,757,936 shares, compared to its average volume of 5,893,482. The company has a market cap of $57.37 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The firm's fifty day moving average is $67.60 and its 200-day moving average is $72.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.
Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the previous year, the company earned $0.53 EPS. On average, analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.
Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.
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 issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. 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. Carrier Global's payout ratio is currently 14.33%.
Wall Street Analyst Weigh In
CARR has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a "buy" rating and a $96.00 price objective for the company. Citigroup decreased their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus target price of $82.64.
View Our Latest Stock Report on CARR
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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