Carrier Global Co. (NYSE:CARR) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 25.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,052 shares of the company’s stock after selling 1,748 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Carrier Global were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in shares of Carrier Global by 59.5% in the second quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock valued at $2,264,000 after buying an additional 13,385 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $372,000. Creative Planning raised its stake in Carrier Global by 4.3% during the 2nd quarter. Creative Planning now owns 453,571 shares of the company’s stock valued at $28,611,000 after acquiring an additional 18,895 shares during the last quarter. NewEdge Advisors LLC lifted its position in Carrier Global by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock worth $2,208,000 after acquiring an additional 1,058 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Carrier Global by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock valued at $2,542,000 after purchasing an additional 884 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CARR shares. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Northcoast Research initiated coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Barclays cut their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Trading Down 3.9 %

Shares of CARR opened at $67.36 on Tuesday. The firm has a 50 day simple moving average of $71.42 and a 200-day simple moving average of $72.55. The stock has a market cap of $60.44 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. 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.

Carrier Global declared that its board has initiated a share buyback 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 an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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.