International Assets Investment Management LLC Sells 898,001 Shares of Carrier Global Co. (NYSE:CARR)

International Assets Investment Management LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 99.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,257 shares of the company's stock after selling 898,001 shares during the period. International Assets Investment Management LLC's holdings in Carrier Global were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC raised its stake 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 buying an additional 136 shares in the last quarter. Meridian Wealth Management LLC raised its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock worth $485,000 after acquiring an additional 137 shares in the last quarter. Essex Savings Bank raised its position 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 acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC lifted its holdings in Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock valued at $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC boosted its position in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company's stock valued at $257,000 after purchasing an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 2.8 %

CARR stock traded down $1.89 during midday trading on Friday, reaching $66.56. The company had a trading volume of 6,005,705 shares, compared to its average volume of 4,159,834. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $59.72 billion, a P/E ratio of 16.85, a PEG ratio of 2.73 and a beta of 1.36. The company has a 50 day moving average of $72.55 and a two-hundred day moving average of $72.04.

Carrier Global declared that its board has authorized a share repurchase plan 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 plans are often a sign that the company's management believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid 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 dividend on an annualized basis and a dividend yield of 1.35%. Carrier Global's dividend payout ratio (DPR) is 22.78%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Finally, Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.21.

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.