Carrier Global Co. (NYSE:CARR) Shares Acquired by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 1,156.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,663 shares of the company’s stock after buying an additional 19,018 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Carrier Global were worth $1,410,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in Carrier Global in the 3rd quarter worth approximately $37,000. Country Trust Bank bought a new stake in Carrier Global during the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Carrier Global during the 3rd quarter worth $44,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR opened at $65.29 on Monday. The firm has a market capitalization of $58.58 billion, a P/E ratio of 16.53, a PEG ratio of 2.12 and a beta of 1.35. The stock has a fifty day moving average of $70.51 and a 200-day moving average of $72.50. 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 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. 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 yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Mizuho raised their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays reduced 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. Bank of America boosted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Citigroup lowered their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global 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.