AA Financial Advisors LLC Decreases Holdings in Carrier Global Co. (NYSE:CARR)

AA Financial Advisors LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,747 shares of the company’s stock after selling 453 shares during the quarter. AA Financial Advisors LLC’s holdings in Carrier Global were worth $392,000 at the end of the most recent reporting period.

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

Carrier Global Price Performance

NYSE:CARR opened at $65.90 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a 50 day moving average price of $70.75 and a 200-day moving average price of $72.47. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36.

Carrier Global announced that its board has approved a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Ratings Changes

A number of analysts recently commented on CARR shares. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Bank of America lifted their price objective 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. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. 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, Mizuho increased their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.