Rhumbline Advisers Sells 23,076 Shares of Carrier Global Co. (NYSE:CARR)

Rhumbline Advisers decreased its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,480,988 shares of the company's stock after selling 23,076 shares during the quarter. Rhumbline Advisers owned 0.17% of Carrier Global worth $101,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. FSM Wealth Advisors LLC raised its position in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after buying an additional 137 shares during the last quarter. UMB Bank n.a. boosted its position in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock worth $907,000 after buying an additional 143 shares during the period. Essex Savings Bank grew its holdings in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after acquiring an additional 144 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after acquiring an additional 147 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.9 %

NYSE:CARR traded down $0.57 on Wednesday, hitting $66.02. The stock had a trading volume of 4,878,041 shares, compared to its average volume of 5,929,130. The company has a market cap of $57.33 billion, a PE ratio of 10.51, a P/E/G ratio of 1.90 and a beta of 1.35. 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 is $67.89 and its 200 day moving average is $72.34. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results 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 net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts expect that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a dividend of $0.225 per share. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. This is an increase from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is 14.33%.

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

Wall Street Analyst Weigh In

CARR has been the topic of several analyst reports. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Citigroup cut their price objective on Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price for the company. Finally, Mizuho raised shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price objective on the stock in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.64.

About Carrier Global

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.