Soltis Investment Advisors LLC Grows Stock Position in Carrier Global Co. (NYSE:CARR)

Soltis Investment Advisors LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,962 shares of the company’s stock after purchasing an additional 232 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Carrier Global were worth $885,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FSA Wealth Management LLC purchased a new position in Carrier Global in the third quarter worth $28,000. McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co purchased a new position in Carrier Global in the third quarter worth $37,000. Capital Performance Advisors LLP purchased a new position in Carrier Global in the third quarter worth $44,000. Finally, Ashton Thomas Securities LLC purchased a new position in Carrier Global in the third quarter worth $50,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 3.4 %

CARR opened at $66.35 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $59.53 billion, a P/E ratio of 16.80, a PEG ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The business’s fifty day simple moving average is $69.19 and its 200 day simple moving average is $72.40.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often 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 was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. 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%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CARR. The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Robert W. Baird lowered their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Eight 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, Carrier Global has an average rating of “Moderate Buy” and a consensus price target 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.