Telos Capital Management Inc. Has $7.39 Million Holdings in Carrier Global Co. (NYSE:CARR)

Telos Capital Management Inc. cut its stake in Carrier Global Co. (NYSE:CARR) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,236 shares of the company’s stock after selling 1,817 shares during the period. Telos Capital Management Inc.’s holdings in Carrier Global were worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp raised its stake in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Carrier Global by 1.9% in the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares during the last quarter. FMR LLC raised its stake in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after acquiring an additional 110,988 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Citigroup dropped their price target 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. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note 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 target for the company in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company dropped their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Up 0.9 %

Shares of NYSE:CARR opened at $65.15 on Friday. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $58.45 billion, a PE ratio of 16.49, a PEG ratio of 2.12 and a beta of 1.35. The company has a 50 day moving average price of $69.69 and a two-hundred day moving average price of $72.40.

Carrier Global Increases Dividend

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

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.