Park Avenue Securities LLC Has $2.08 Million Holdings in Carrier Global Co. (NYSE:CARR)

Park Avenue Securities LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 56.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,420 shares of the company's stock after purchasing an additional 11,008 shares during the period. Park Avenue Securities LLC's holdings in Carrier Global were worth $2,076,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new stake in Carrier Global during the 3rd quarter worth approximately $37,000. Country Trust Bank bought a new position in Carrier Global in the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Carrier Global in the third quarter valued at approximately $44,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Royal Bank of Canada cut their price target on Carrier Global from $87.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Mizuho lifted their target price on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Finally, Stephens decreased their price target 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. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

Carrier Global Stock Performance

NYSE:CARR remained flat at $69.74 on Friday. The company's stock had a trading volume of 4,601,408 shares, compared to its average volume of 4,039,499. 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 $62.57 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. The firm has a 50 day moving average of $71.96 and a two-hundred day moving average of $72.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has approved a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.