Carrier Global Co. (NYSE:CARR) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,655 shares of the company’s stock after selling 434 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Carrier Global were worth $1,069,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. FSA Wealth Management LLC purchased a new position in Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. boosted its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global in the 3rd quarter worth about $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the 3rd quarter worth about $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Carrier Global in the 3rd quarter worth about $50,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CARR. Mizuho boosted their target price on shares of 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 target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada cut 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. Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Eight equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Down 1.4 %

Shares of NYSE:CARR opened at $65.31 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The stock has a market capitalization of $58.60 billion, a P/E ratio of 16.53, a PEG ratio of 2.11 and a beta of 1.35. The stock has a 50-day simple moving average of $68.99 and a 200-day simple moving average of $72.41.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global declared that its board has authorized a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.