Bar Harbor Wealth Management Sells 1,002 Shares of Carrier Global Co. (NYSE:CARR)

Bar Harbor Wealth Management trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,717 shares of the company’s stock after selling 1,002 shares during the quarter. Bar Harbor Wealth Management’s holdings in Carrier Global were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. raised its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global during the 3rd quarter valued at about $37,000. Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. Finally, Country Trust Bank purchased a new stake in Carrier Global in the 3rd quarter worth approximately $40,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Up 1.0 %

CARR stock traded up $0.67 during midday trading on Monday, reaching $67.18. 3,725,244 shares of the company traded hands, compared to its average volume of 3,989,495. The firm has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.73 and a beta of 1.36. 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 $72.55 and a 200-day moving average of $72.10. 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 Increases Dividend

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

Carrier Global announced that its board has authorized a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Stephens lowered their price objective on 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. Wells Fargo & Company decreased their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Northcoast Research started coverage on Carrier Global in a research note 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.36.

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.