Carrier Global Co. (NYSE:CARR) Shares Sold by Lakewood Asset Management LLC

Lakewood Asset Management LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,878 shares of the company’s stock after selling 1,342 shares during the period. Carrier Global comprises about 1.1% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Lakewood Asset Management LLC’s holdings in Carrier Global were worth $1,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawyer & Company Inc grew its position in shares of Carrier Global by 2,359.0% during the fourth quarter. Sawyer & Company Inc now owns 1,500 shares of the company’s stock worth $102,000 after buying an additional 1,439 shares in the last quarter. Brendel Financial Advisors LLC raised its stake in shares of Carrier Global by 8.1% during the fourth quarter. Brendel Financial Advisors LLC now owns 16,641 shares of the company’s stock valued at $1,136,000 after purchasing an additional 1,247 shares in the last quarter. Avity Investment Management Inc. grew its holdings in Carrier Global by 27.5% during the fourth quarter. Avity Investment Management Inc. now owns 307,003 shares of the company’s stock worth $20,956,000 after acquiring an additional 66,204 shares during the period. Clarus Wealth Advisors grew its holdings in Carrier Global by 32.0% during the fourth quarter. Clarus Wealth Advisors now owns 12,213 shares of the company’s stock worth $820,000 after acquiring an additional 2,961 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Carrier Global by 34.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,584 shares of the company’s stock worth $108,000 after buying an additional 407 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CARR. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

NYSE CARR opened at $68.93 on Thursday. The stock has a market capitalization of $61.85 billion, a PE ratio of 17.45, a P/E/G ratio of 2.03 and a beta of 1.36. The business has a 50 day simple moving average of $72.34 and a two-hundred day simple moving average of $72.17. 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 Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a positive change 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 1.31%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is 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.