V Square Quantitative Management LLC Increases Stock Position in Carrier Global Co. (NYSE:CARR)

V Square Quantitative Management LLC lifted its holdings in Carrier Global Co. (NYSE:CARR) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,635 shares of the company’s stock after purchasing an additional 346 shares during the period. V Square Quantitative Management LLC’s holdings in Carrier Global were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in Carrier Global during the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its holdings 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 valued at $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $65.19 on Friday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The stock has a market cap of $58.49 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The company has a 50-day moving average price of $68.34 and a 200 day moving average price of $72.28. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global declared that its board has approved a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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 given a dividend of $0.225 per share. 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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Analysts Set New Price Targets

Several analysts have recently commented on CARR shares. JPMorgan Chase & Co. dropped their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Friday. Barclays lowered their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Company 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.