TigerOak Management L.L.C. Makes New Investment in Carrier Global Co. (NYSE:CARR)

TigerOak Management L.L.C. acquired a new position in Carrier Global Co. (NYSE:CARR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,194 shares of the company's stock, valued at approximately $286,000.

Several other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in Carrier Global by 69.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company's stock valued at $96,000 after acquiring an additional 487 shares during the last quarter. Creative Planning lifted its stake in Carrier Global by 2.6% during the third quarter. Creative Planning now owns 465,226 shares of the company's stock valued at $37,446,000 after purchasing an additional 11,655 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth approximately $263,000. Good Life Advisors LLC acquired a new position in Carrier Global in the third quarter worth approximately $269,000. Finally, Bleakley Financial Group LLC raised its position in shares of Carrier Global by 3.5% during the third quarter. Bleakley Financial Group LLC now owns 47,004 shares of the company's stock worth $3,783,000 after purchasing an additional 1,577 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 target price on the stock in a research report on Friday, February 14th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a "buy" rating and a $96.00 price objective for the company. Stephens lowered their price objective 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. Finally, Royal Bank of Canada reduced their target price on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.64.

Carrier Global Trading Down 0.9 %

Shares of Carrier Global stock traded down $0.57 on Wednesday, hitting $66.02. 5,168,329 shares of the company's stock traded hands, compared to its average volume of 5,938,870. The firm's 50-day moving average price is $67.89 and its two-hundred day moving average price is $72.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market capitalization of $57.33 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued 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 a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is currently 14.33%.

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.