Folger Nolan Fleming Douglas Capital Management Inc. Sells 231 Shares of Carrier Global Co. (NYSE:CARR)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,557 shares of the company’s stock after selling 231 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $652,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in 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 acquiring an additional 469,108 shares during the period. Geode Capital Management LLC grew its position in shares of Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after purchasing an additional 289,439 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after purchasing an additional 269,538 shares during the period. FMR LLC raised its position in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after buying an additional 110,988 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $69.74 on Friday. The company has a market capitalization of $62.57 billion, a PE ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. 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 twelve month low of $53.13 and a twelve month high of $83.32. The firm has a fifty day simple moving average of $72.10 and a 200 day simple moving average of $72.13.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Barclays reduced their price target on shares of 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, UBS Group raised shares of 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. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.