Highland Capital Management LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Highland Capital Management LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,340 shares of the company’s stock after selling 10,108 shares during the quarter. Carrier Global makes up approximately 0.9% of Highland Capital Management LLC’s holdings, making the stock its 22nd largest holding. Highland Capital Management LLC’s holdings in Carrier Global were worth $15,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in Carrier Global during the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the 3rd quarter worth approximately $37,000. Country Trust Bank acquired a new position in shares of Carrier Global in the 3rd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Carrier Global in the 3rd quarter worth approximately $44,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on CARR shares. Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays reduced their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Down 3.7 %

CARR opened at $64.78 on Thursday. The business has a 50-day moving average of $71.14 and a 200-day moving average of $72.57. 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 fifty-two week low of $53.13 and a fifty-two week high of $83.32. The company has a market capitalization of $58.12 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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