Parsons Capital Management Inc. RI Has $6.28 Million Holdings in Carrier Global Co. (NYSE:CARR)

Parsons Capital Management Inc. RI lifted its position in Carrier Global Co. (NYSE:CARR) by 26.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 92,041 shares of the company’s stock after acquiring an additional 19,217 shares during the period. Parsons Capital Management Inc. RI’s holdings in Carrier Global were worth $6,283,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Carrier Global by 39.0% in 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 period. Daiwa Securities Group Inc. raised its position in shares of Carrier Global by 12.3% in the third 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. Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth about $2,213,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Carrier Global during the 3rd quarter worth about $1,068,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Carrier Global in the 3rd quarter valued at about $793,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CARR. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. dropped their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Barclays lowered their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Eight research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Up 0.2 %

Shares of CARR opened at $70.05 on Monday. The firm has a 50 day simple moving average of $71.42 and a two-hundred day simple moving average of $72.55. 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 one year low of $53.13 and a one year high of $83.32. The company has a market cap of $62.85 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.26 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. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.