Foster Victor Wealth Advisors LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

Foster Victor Wealth Advisors LLC raised its position in Carrier Global Co. (NYSE:CARR) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,117 shares of the company’s stock after purchasing an additional 9,332 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Carrier Global were worth $10,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. RFG Advisory LLC increased its holdings in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after acquiring an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth about $2,213,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in Carrier Global during the third quarter worth approximately $1,068,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Citigroup dropped their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 0.2 %

CARR opened at $67.32 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The stock has a market capitalization of $60.40 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.26 and a beta of 1.36. The business has a 50 day simple moving average of $71.14 and a 200-day simple moving average of $72.57.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. 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 1.34%. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has approved 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 buy 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.