Carrier Global Co. (NYSE:CARR) Stake Reduced by Courier Capital LLC

Courier Capital LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,197 shares of the company’s stock after selling 824 shares during the quarter. Courier Capital LLC’s holdings in Carrier Global were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CARR. Acadian Asset Management LLC acquired a new stake in shares of Carrier Global during the second quarter worth $903,000. American Century Companies Inc. raised its holdings in Carrier Global by 57.7% during the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock worth $5,946,000 after buying an additional 34,487 shares during the period. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Carrier Global by 6.7% in the second quarter. Parallel Advisors LLC now owns 17,656 shares of the company’s stock worth $1,114,000 after buying an additional 1,103 shares during the period. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Carrier Global in the second quarter worth approximately $267,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company decreased their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Bank of America lifted their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.36.

Carrier Global Stock Performance

CARR stock opened at $67.18 on Tuesday. The firm has a 50 day moving average of $72.45 and a two-hundred day moving average of $72.13. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.73 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.34%. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global announced that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.