Court Place Advisors LLC Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Court Place Advisors LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,106 shares of the company’s stock after selling 548 shares during the period. Court Place Advisors LLC’s holdings in Carrier Global were worth $349,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Stephens lowered their target price on shares of 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. Finally, Oppenheimer increased their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $67.36 on Tuesday. 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 Co. has a one year low of $53.13 and a one year high of $83.32. The business’s fifty day moving average price is $71.42 and its two-hundred day moving average price is $72.55. The stock has a market cap of $60.44 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.

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 paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.34%. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often 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.