Steigerwald Gordon & Koch Inc. Cuts Holdings in Carrier Global Co. (NYSE:CARR)

Steigerwald Gordon & Koch Inc. cut its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 305,715 shares of the company's stock after selling 4,364 shares during the period. Carrier Global comprises about 2.4% of Steigerwald Gordon & Koch Inc.'s holdings, making the stock its 18th biggest holding. Steigerwald Gordon & Koch Inc.'s holdings in Carrier Global were worth $20,868,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the third quarter worth approximately $28,000. McClarren Financial Advisors Inc. lifted its holdings in 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 in the last quarter. Coastline Trust Co acquired a new stake in Carrier Global during the 3rd quarter worth $37,000. Country Trust Bank purchased a new stake in shares of Carrier Global during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the third quarter valued at about $44,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of CARR remained flat at $69.74 during trading on Monday. 4,601,408 shares of the company's stock were exchanged, compared to its average volume of 4,039,499. The business's fifty day moving average is $71.96 and its 200-day moving average is $72.31. 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 Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market cap of $62.57 billion, a PE ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global's payout ratio is presently 22.78%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed 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 on the stock. Royal Bank of Canada dropped their price target on Carrier Global from $87.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Barclays lowered their price objective on Carrier Global from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Eight 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.