Carrier Global Co. (NYSE:CARR) Shares Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,207 shares of the company's stock after purchasing an additional 4,966 shares during the period. VCI Wealth Management LLC's holdings in Carrier Global were worth $1,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. FMR LLC increased its position in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Carrier Global during the 3rd quarter valued at about $130,479,000. Mizuho Securities USA LLC increased its holdings in shares of Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock valued at $79,484,000 after purchasing an additional 922,892 shares during the period. International Assets Investment Management LLC raised its stake in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after purchasing an additional 897,061 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company's stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.11 during trading on Tuesday, hitting $67.32. The company had a trading volume of 7,965,263 shares, compared to its average volume of 5,234,162. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The stock has a fifty day simple moving average of $71.28 and a two-hundred day simple moving average of $72.56. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, December 20th. Carrier Global's payout ratio is 22.78%.

Carrier Global announced that its board has initiated a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price for the company. Barclays lowered their price target on shares of Carrier Global from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.93.

Carrier Global 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.