PFG Investments LLC Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

PFG Investments LLC decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,240 shares of the company’s stock after selling 1,002 shares during the period. PFG Investments LLC’s holdings in Carrier Global were worth $494,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CARR. Tennessee Valley Asset Management Partners increased its position in shares of Carrier Global by 5.5% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,520 shares of the company’s stock valued at $309,000 after purchasing an additional 234 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Carrier Global by 3.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 205,646 shares of the company’s stock valued at $14,038,000 after buying an additional 7,103 shares during the last quarter. Blue Square Asset Management LLC raised its position in Carrier Global by 3.1% in the fourth quarter. Blue Square Asset Management LLC now owns 33,585 shares of the company’s stock worth $2,293,000 after acquiring an additional 1,006 shares during the period. First Citizens Bank & Trust Co. raised its position in Carrier Global by 4.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,641 shares of the company’s stock worth $726,000 after acquiring an additional 469 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Carrier Global by 5.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 5,447 shares of the company’s stock worth $372,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $64.78 on Thursday. The company has a market cap of $58.12 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.26 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 stock’s 50 day simple moving average is $71.14 and its two-hundred day simple moving average is $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 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 outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

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 an increase 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 yield of 1.39%. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CARR. Royal Bank of Canada decreased their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Barclays reduced their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird lowered their price target 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, Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.