Venturi Wealth Management LLC Sells 2,473 Shares of Carrier Global Co. (NYSE:CARR)

Venturi Wealth Management LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 21.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,818 shares of the company’s stock after selling 2,473 shares during the quarter. Venturi Wealth Management LLC’s holdings in Carrier Global were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. Exchange Traded Concepts LLC lifted its holdings in shares of Carrier Global by 69.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after buying an additional 487 shares during the period. Blue Trust Inc. increased its stake in shares of Carrier Global by 142.9% in the 3rd quarter. Blue Trust Inc. now owns 5,958 shares of the company’s stock worth $480,000 after purchasing an additional 3,505 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Carrier Global by 2.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after purchasing an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Carrier Global by 12.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the company’s stock worth $1,183,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Carrier Global in the 3rd quarter worth $1,525,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.9 %

Shares of CARR stock opened at $66.02 on Thursday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock’s 50-day moving average price is $67.73 and its 200-day moving average price is $72.29. The stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts predict that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. 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 payout ratio is 14.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CARR. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday, February 14th. Royal Bank of Canada reduced their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Barclays reduced their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company cut their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average 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.