Vontobel Holding Ltd. Sells 42,180 Shares of Carrier Global Co. (NYSE:CARR)

Vontobel Holding Ltd. reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 683,675 shares of the company’s stock after selling 42,180 shares during the quarter. Vontobel Holding Ltd.’s holdings in Carrier Global were worth $46,668,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. RFG Advisory LLC raised its stake in shares of Carrier Global by 36.2% during the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after buying an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after acquiring an additional 19,018 shares during the period. Cerity Partners LLC raised its position in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after acquiring an additional 38,365 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in shares of Carrier Global in the 4th quarter worth $2,213,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Mizuho upped their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays lowered their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Robert W. Baird lowered their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Trading Up 0.2 %

CARR opened at $63.70 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock 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. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The firm’s fifty day simple moving average is $68.55 and its 200 day simple moving average is $72.34.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results 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 period in the prior year, the business earned $0.53 earnings per share. As a group, research analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global announced that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

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

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.