City State Bank Has $92,000 Stake in Carrier Global Co. (NYSE:CARR)

City State Bank decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,353 shares of the company’s stock after selling 254 shares during the period. City State Bank’s holdings in Carrier Global were worth $92,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. FSM Wealth Advisors LLC lifted its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the last quarter. Meridian Wealth Management LLC lifted its position in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the last quarter. Essex Savings Bank lifted its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares during the last quarter. Boston Financial Mangement LLC lifted its position in Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC lifted its position in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $67.18 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The firm’s 50-day moving average price is $72.45 and its two-hundred day moving average price is $72.13.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.34%. 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 currently 22.78%.

Carrier Global announced that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upgraded 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. Barclays dropped their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Royal Bank of Canada dropped their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.36.

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.