Highland Capital Management LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Highland Capital Management LLC lessened its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,340 shares of the company's stock after selling 10,108 shares during the period. Carrier Global makes up about 0.9% of Highland Capital Management LLC's investment portfolio, making the stock its 22nd largest position. Highland Capital Management LLC's holdings in Carrier Global were worth $15,450,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company's stock valued at $2,709,736,000 after acquiring an additional 469,108 shares during the period. Geode Capital Management LLC raised its position in Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company's stock worth $1,357,961,000 after purchasing an additional 289,439 shares during the period. Fisher Asset Management LLC lifted its stake in Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock worth $1,148,360,000 after purchasing an additional 269,538 shares during the last quarter. FMR LLC grew its stake in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company's stock worth $482,390,000 after buying an additional 110,988 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Up 1.6 %

NYSE CARR traded up $1.01 on Thursday, hitting $65.81. The stock had a trading volume of 3,477,124 shares, compared to its average volume of 5,388,517. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The business's fifty day moving average price is $70.95 and its 200 day moving average price is $72.51. 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 stock has a market cap of $59.04 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.

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 reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm 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. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global's dividend payout ratio is currently 22.78%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CARR. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They set a "neutral" rating for the company. Stephens reduced their target price on shares of 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. JPMorgan Chase & Co. lowered their price target on Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Finally, Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $83.93.

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.