Radnor Capital Management LLC Decreases Holdings in Carrier Global Co. (NYSE:CARR)

Radnor Capital Management LLC lowered its stake in Carrier Global Co. (NYSE:CARR) by 9.7% in the 4th quarter, HoldingsChannel reports. The fund owned 4,192 shares of the company’s stock after selling 450 shares during the period. Radnor Capital Management LLC’s holdings in Carrier Global were worth $286,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Clarus Wealth Advisors increased its position in Carrier Global by 32.0% during the fourth quarter. Clarus Wealth Advisors now owns 12,213 shares of the company’s stock valued at $820,000 after acquiring an additional 2,961 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Carrier Global by 34.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,584 shares of the company’s stock worth $108,000 after purchasing an additional 407 shares during the period. Park Avenue Securities LLC grew its holdings in Carrier Global by 56.7% during the 4th quarter. Park Avenue Securities LLC now owns 30,420 shares of the company’s stock valued at $2,076,000 after purchasing an additional 11,008 shares during the last quarter. Pines Wealth Management LLC purchased a new stake in Carrier Global in the 4th quarter worth about $227,000. Finally, SeaCrest Wealth Management LLC lifted its stake in Carrier Global by 52.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 4,963 shares of the company’s stock worth $339,000 after purchasing an additional 1,697 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 1.3 %

Shares of NYSE:CARR opened at $69.72 on Friday. The company has a market capitalization of $62.56 billion, a PE ratio of 17.65, a P/E/G ratio of 2.03 and a beta of 1.36. 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 Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The business’s fifty day simple moving average is $72.21 and its 200-day simple moving average is $72.14.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Analysts Set New Price Targets

CARR has been the topic of several recent analyst reports. 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. Citigroup reduced their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. 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. Oppenheimer raised their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.