Carrier Global Co. (NYSE:CARR) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,162 shares of the company’s stock after purchasing an additional 836 shares during the quarter. Ballentine Partners LLC’s holdings in Carrier Global were worth $1,103,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. grew its stake in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global in the 3rd quarter valued at $37,000. Country Trust Bank purchased a new stake in Carrier Global in the 3rd quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Carrier Global during the third quarter worth $44,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.8 %

CARR stock opened at $70.01 on Thursday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The firm has a market cap of $62.81 billion, a PE ratio of 17.72, a PEG ratio of 2.24 and a beta of 1.36. The firm’s 50 day moving average price is $71.74 and its 200-day moving average price is $72.40. 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 of Directors has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. The ex-dividend date 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 22.78%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CARR. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Citigroup decreased their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays dropped their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Eight investment 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, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

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.