Birch Hill Investment Advisors LLC Has $1.44 Million Stake in Carrier Global Co. (NYSE:CARR)

Birch Hill Investment Advisors LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,128 shares of the company’s stock after selling 400 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Carrier Global were worth $1,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Atomi Financial Group Inc. grew its holdings in Carrier Global by 20.9% during the third quarter. Atomi Financial Group Inc. now owns 5,528 shares of the company’s stock valued at $445,000 after purchasing an additional 956 shares during the last quarter. Brookstone Capital Management grew its stake in Carrier Global by 9.4% in the 3rd quarter. Brookstone Capital Management now owns 5,999 shares of the company’s stock valued at $483,000 after buying an additional 513 shares during the last quarter. Marcum Wealth LLC acquired a new position in Carrier Global in the 3rd quarter valued at $211,000. UMB Bank n.a. raised its holdings in Carrier Global by 1.6% in the 3rd quarter. UMB Bank n.a. now owns 13,150 shares of the company’s stock worth $1,058,000 after acquiring an additional 206 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Carrier Global by 359.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,729 shares of the company’s stock worth $542,000 after acquiring an additional 5,264 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CARR. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Barclays cut their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the 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 Stock Performance

NYSE:CARR opened at $64.17 on Friday. The firm has a market capitalization of $57.58 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. 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 50-day moving average price of $69.19 and a 200 day moving average price of $72.33.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.40%. Carrier Global’s dividend payout ratio is presently 22.78%.

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.