Cypress Capital Management LLC WY Has $83,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Cypress Capital Management LLC WY cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 42.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,210 shares of the company’s stock after selling 900 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Carrier Global were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after buying an additional 289,439 shares in the last quarter. Fisher Asset Management LLC raised its stake in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after buying an additional 269,538 shares during the period. FMR LLC lifted its holdings in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after acquiring an additional 110,988 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $65.90 on Friday. The business’s 50-day simple moving average is $70.95 and its 200 day simple moving average is $72.51. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $59.12 billion, a PE ratio of 16.68, a PEG ratio of 2.26 and a beta of 1.36.

Carrier Global declared that its Board of Directors has authorized a share 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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CARR. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada cut 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. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Barclays cut their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.