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

HB Wealth Management LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,000 shares of the company’s stock after acquiring an additional 371 shares during the period. HB Wealth Management LLC’s holdings in Carrier Global were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in Carrier Global by 57.7% in the second quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock worth $5,946,000 after purchasing an additional 34,487 shares during the period. Brighton Jones LLC lifted its position in Carrier Global by 10.4% in the second quarter. Brighton Jones LLC now owns 5,790 shares of the company’s stock worth $365,000 after purchasing an additional 544 shares during the period. Ieq Capital LLC lifted its position in Carrier Global by 7.0% in the second quarter. Ieq Capital LLC now owns 45,872 shares of the company’s stock worth $2,894,000 after purchasing an additional 2,981 shares during the period. AE Wealth Management LLC lifted its position in Carrier Global by 30.6% in the second quarter. AE Wealth Management LLC now owns 9,026 shares of the company’s stock worth $569,000 after purchasing an additional 2,115 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Carrier Global by 21.4% in the second quarter. Pacer Advisors Inc. now owns 71,961 shares of the company’s stock worth $4,539,000 after purchasing an additional 12,698 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given 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 price target of $83.93.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $69.74 on Monday. The company has a market cap of $62.57 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. The stock’s 50-day moving average is $71.96 and its 200-day moving average is $72.25. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. 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 announced that its board 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 typically an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company 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 dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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.