Carrier Global Co. (NYSE:CARR) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,537 shares of the company’s stock after selling 350 shares during the quarter. First City Capital Management Inc.’s holdings in Carrier Global were worth $651,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC grew its stake in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Carrier Global in the 3rd quarter valued at about $130,479,000. Point72 Asset Management L.P. acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $58,415,000. Mizuho Securities USA LLC lifted its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 valued at $730,250,000 after buying an additional 897,061 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CARR. Barclays increased their price target on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised 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. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Northcoast Research initiated coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Eight equities 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.43.

Carrier Global Stock Up 1.6 %

Shares of CARR stock traded up $1.12 during trading hours on Friday, hitting $69.45. 1,440,491 shares of the company were exchanged, compared to its average volume of 2,539,008. The company has a market capitalization of $62.31 billion, a PE ratio of 17.58, a PEG ratio of 2.73 and a beta of 1.33. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The business has a 50 day moving average of $73.22 and a two-hundred day moving average of $71.83.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.30%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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.