Gateway Investment Advisers LLC Trims Stake in Carrier Global Co. (NYSE:CARR)

Gateway Investment Advisers LLC reduced its stake in Carrier Global Co. (NYSE:CARR) by 0.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 361,570 shares of the company’s stock after selling 400 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Carrier Global were worth $24,681,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FSM Wealth Advisors LLC boosted its position in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after buying an additional 137 shares in the last quarter. Essex Savings Bank lifted its stake 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 in the last quarter. Boston Financial Mangement LLC boosted its holdings in Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares during the period. Finally, Sittner & Nelson LLC increased its stake in Carrier Global by 4.9% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Trading Up 1.3 %

CARR opened at $69.72 on Friday. The stock has a 50-day moving average of $72.21 and a 200 day moving average of $72.14. The company has a current ratio of 1.08, a quick ratio of 0.82 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. The firm has a market cap of $62.56 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.03 and a beta of 1.36.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. This is a boost 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 dividend yield of 1.29%. Carrier Global’s payout ratio is 22.78%.

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