Brendel Financial Advisors LLC Buys 1,247 Shares of Carrier Global Co. (NYSE:CARR)

Brendel Financial Advisors LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,641 shares of the company’s stock after acquiring an additional 1,247 shares during the quarter. Brendel Financial Advisors LLC’s holdings in Carrier Global were worth $1,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC increased its stake in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares in the last quarter. Cerity Partners LLC increased its stake in Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Carrier Global during the 3rd quarter worth approximately $1,068,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Carrier Global during the 3rd quarter worth approximately $793,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of several research reports. Barclays decreased their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Oppenheimer raised their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Citigroup decreased 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. Royal Bank of Canada decreased their price target 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. Finally, Bank of America raised their price target 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. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.36.

Carrier Global Trading Up 1.9 %

Shares of Carrier Global stock opened at $68.36 on Wednesday. The business has a fifty day simple moving average of $72.34 and a two-hundred day simple moving average of $72.17. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a market capitalization of $61.33 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 2.73 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.32%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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.