Code Waechter LLC Takes $220,000 Position in Carrier Global Co. (NYSE:CARR)

Code Waechter LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the fourth quarter, Holdings Channel reports. The fund bought 3,219 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its position in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Carrier Global during the third quarter worth $130,479,000. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the second quarter valued at $58,415,000. Mizuho Securities USA LLC increased its position in Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $67.18 on Tuesday. The firm has a market capitalization of $60.28 billion, a PE ratio of 17.01, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The business’s 50 day moving average is $72.45 and its 200-day moving average is $72.13. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has initiated 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 repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on CARR shares. Wells Fargo & Company dropped their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Finally, Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.36.

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.