Contravisory Investment Management Inc. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Contravisory Investment Management Inc. cut its holdings in Carrier Global Co. (NYSE:CARR) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 129,349 shares of the company’s stock after selling 608 shares during the quarter. Carrier Global accounts for 1.9% of Contravisory Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Contravisory Investment Management Inc.’s holdings in Carrier Global were worth $8,829,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth approximately $28,000. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co purchased a new stake in Carrier Global during the 3rd quarter valued at $37,000. Country Trust Bank bought a new stake in Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Carrier Global during the third quarter worth $44,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.8 %

NYSE:CARR opened at $68.93 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a 50-day moving average of $72.34 and a 200 day moving average of $72.17. The firm has a market cap of $61.85 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36.

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 paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.31%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on CARR. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. 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 report on Wednesday. Wells Fargo & Company dropped 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. Barclays reduced their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global 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.