Resonant Capital Advisors LLC Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Resonant Capital Advisors LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,749 shares of the company’s stock after selling 286 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Carrier Global were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RFG Advisory LLC grew its position in shares of 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 purchasing an additional 1,904 shares during the last quarter. Cerity Partners LLC grew its stake 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 valued at $11,013,000 after buying an additional 38,365 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Carrier Global by 12.3% during 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 in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global during the 4th quarter valued at $2,213,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at $1,068,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the topic of a number of recent analyst reports. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Bank of America upped 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. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Barclays reduced their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. 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 stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Shares of CARR stock opened at $63.00 on Tuesday. The firm has a market capitalization of $56.52 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The firm has a fifty day moving average of $70.51 and a 200-day moving average of $72.50.

Carrier Global Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.43%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global 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.