Carrier Global Co. (NYSE:CARR) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,169 shares of the company’s stock after selling 221 shares during the period. Manchester Capital Management LLC’s holdings in Carrier Global were worth $353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global in the third quarter worth $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the third quarter worth $44,000. Finally, Ashton Thomas Securities LLC bought a new position in Carrier Global in the third quarter worth $50,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $65.19 on Friday. The firm has a market cap of $58.49 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The business’s fifty day moving average is $68.34 and its 200-day moving average is $72.28.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter last year, the company posted $0.53 EPS. Sell-side analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CARR shares. Wells Fargo & Company cut their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stephens cut their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Barclays lowered their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

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.