Summit Trail Advisors LLC Has $1.66 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Summit Trail Advisors LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 10.6% in the 4th quarter, HoldingsChannel reports. The fund owned 24,240 shares of the company’s stock after purchasing an additional 2,321 shares during the quarter. Summit Trail Advisors LLC’s holdings in Carrier Global were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CARR. Soltis Investment Advisors LLC increased its holdings in shares of Carrier Global by 1.8% during the fourth quarter. Soltis Investment Advisors LLC now owns 12,962 shares of the company’s stock worth $885,000 after purchasing an additional 232 shares during the period. Wingate Wealth Advisors Inc. bought a new position in shares of Carrier Global during the fourth quarter worth approximately $255,000. Angeles Wealth Management LLC increased its holdings in shares of Carrier Global by 10.6% during the fourth quarter. Angeles Wealth Management LLC now owns 4,375 shares of the company’s stock worth $299,000 after purchasing an additional 418 shares during the period. Liberty Capital Management Inc. increased its holdings in shares of Carrier Global by 4.0% during the fourth quarter. Liberty Capital Management Inc. now owns 29,010 shares of the company’s stock worth $1,980,000 after purchasing an additional 1,118 shares during the period. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Carrier Global by 4.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,980 shares of the company’s stock worth $1,296,000 after purchasing an additional 805 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on CARR shares. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Finally, Barclays decreased 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 note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $66.35 on Tuesday. The firm has a market cap of $59.53 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The firm’s fifty day moving average is $69.19 and its 200-day moving average is $72.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually 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.