Carrier Global Co. (NYSE:CARR) Shares Bought by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC lifted its position in Carrier Global Co. (NYSE:CARR - Free Report) by 221.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,327 shares of the company's stock after acquiring an additional 7,118 shares during the period. Gateway Wealth Partners LLC's holdings in Carrier Global were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global in the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global in the 3rd quarter worth about $37,000. Country Trust Bank bought a new position in Carrier Global in the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Carrier Global during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 3.0 %

NYSE CARR traded down $2.01 on Wednesday, reaching $65.30. 5,192,999 shares of the stock traded hands, compared to its average volume of 5,213,457. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a market cap of $58.58 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.26 and a beta of 1.36. The company has a fifty day moving average price of $71.14 and a 200-day moving average price of $72.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. Carrier Global's payout ratio is 22.78%.

Carrier Global announced that its board has approved a stock repurchase program 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 programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Carrier Global from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a "buy" rating and a $96.00 price target for the company. Royal Bank of Canada cut their target price on shares of Carrier Global from $87.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Finally, Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $83.93.

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.