Cambridge Advisors Inc. Has $347,000 Position in Carrier Global Co. (NYSE:CARR)

Cambridge Advisors Inc. cut its position in Carrier Global Co. (NYSE:CARR) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 5,086 shares of the company’s stock after selling 165 shares during the quarter. Cambridge Advisors Inc.’s holdings in Carrier Global were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FSM Wealth Advisors LLC boosted its position in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the last quarter. Essex Savings Bank increased its stake in shares of Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares during the period. Boston Financial Mangement LLC raised its stake in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC lifted its holdings in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares during the period. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Mizuho raised their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays reduced 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. Finally, Royal Bank of Canada lowered their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

Carrier Global stock opened at $69.74 on Friday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm’s fifty day moving average price is $71.96 and its 200-day moving average price is $72.18. The stock has a market cap of $62.57 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.29%. 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 announced that its board has authorized a share buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.