Carrier Global Co. (NYSE:CARR) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. lifted its holdings in Carrier Global Co. (NYSE:CARR) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,700 shares of the company’s stock after purchasing an additional 175 shares during the period. Carrier Global makes up 1.6% of New England Research & Management Inc.’s holdings, making the stock its 16th biggest holding. New England Research & Management Inc.’s holdings in Carrier Global were worth $3,188,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Carrier Global by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock worth $2,542,000 after buying an additional 884 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Carrier Global by 29.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,589 shares of the company’s stock worth $920,000 after buying an additional 3,344 shares during the last quarter. Truist Financial Corp lifted its position in shares of Carrier Global by 1.8% during the 2nd quarter. Truist Financial Corp now owns 135,742 shares of the company’s stock worth $8,563,000 after buying an additional 2,432 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $4,244,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced 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, January 15th. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays reduced their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Oppenheimer upped their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. 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’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Performance

NYSE:CARR opened at $64.78 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market cap of $58.12 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The firm’s fifty day simple moving average is $71.14 and its 200-day simple moving average is $72.57.

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 paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.39%. This is a boost 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 is presently 22.78%.

Carrier Global announced that its Board of Directors has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.