Segment Wealth Management LLC Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Segment Wealth Management LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,021 shares of the company’s stock after purchasing an additional 365 shares during the quarter. Segment Wealth Management LLC’s holdings in Carrier Global were worth $12,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co purchased a new position in Carrier Global during the third quarter worth about $37,000. Country Trust Bank acquired a new stake in Carrier Global in the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Carrier Global in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Oppenheimer boosted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target 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. Finally, Royal Bank of Canada cut their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Eight 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Performance

Shares of CARR opened at $69.74 on Tuesday. The business’s 50 day moving average is $71.96 and its two-hundred day moving average is $72.31. The firm has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.24 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 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.29%. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.