Welch Group LLC Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Welch Group LLC increased its position in Carrier Global Co. (NYSE:CARR) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,071 shares of the company’s stock after buying an additional 2,647 shares during the quarter. Welch Group LLC’s holdings in Carrier Global were worth $6,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. FSM Wealth Advisors LLC increased its holdings in Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares during the period. UMB Bank n.a. grew its stake in shares of Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after buying an additional 143 shares in the last quarter. Essex Savings Bank raised its holdings in shares of Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 3.6 %

CARR stock opened at $63.00 on Tuesday. The stock has a market cap of $56.52 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The firm’s 50-day simple moving average is $70.51 and its 200 day simple moving average is $72.50. 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 quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.43%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CARR. Stephens dropped their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Bank of America upped their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada cut their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, 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. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

About Carrier Global

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.