First Citizens Bank & Trust Co. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

First Citizens Bank & Trust Co. boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,641 shares of the company’s stock after purchasing an additional 469 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Carrier Global were worth $726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Sector Pension Investment Board increased its holdings in shares of Carrier Global by 59.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock valued at $2,264,000 after acquiring an additional 13,385 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $372,000. Creative Planning increased its holdings in shares of Carrier Global by 4.3% in the 2nd quarter. Creative Planning now owns 453,571 shares of the company’s stock valued at $28,611,000 after acquiring an additional 18,895 shares during the last quarter. NewEdge Advisors LLC grew its stake in Carrier Global by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock worth $2,208,000 after buying an additional 1,058 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Carrier Global by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock worth $2,542,000 after buying an additional 884 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 3.9 %

NYSE:CARR opened at $67.36 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market capitalization of $60.44 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The stock has a fifty day simple moving average of $71.42 and a 200 day simple moving average of $72.55.

Carrier Global declared that its board has authorized a share 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 often a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CARR. Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group raised 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. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.