Kanawha Capital Management LLC Acquires 1,515 Shares of Carrier Global Co. (NYSE:CARR)

Kanawha Capital Management LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,995 shares of the company’s stock after acquiring an additional 1,515 shares during the quarter. Kanawha Capital Management LLC’s holdings in Carrier Global were worth $9,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CARR. FSA Wealth Management LLC bought a new position in Carrier Global in the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global in the 3rd quarter worth about $37,000. Capital Performance Advisors LLP purchased a new position in shares of Carrier Global in the 3rd quarter worth about $44,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Carrier Global in the 3rd quarter worth about $50,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 0.2 %

Shares of NYSE:CARR opened at $63.70 on Friday. 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 $57.15 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.11 and a beta of 1.35. The stock has a 50 day moving average price of $68.55 and a 200-day moving average price of $72.34.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Friday. Stephens dropped their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Royal Bank of Canada dropped their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.