1858 Wealth Management LLC Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

1858 Wealth Management LLC grew its position in Carrier Global Co. (NYSE:CARR) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,931 shares of the company’s stock after buying an additional 1,420 shares during the quarter. 1858 Wealth Management LLC’s holdings in Carrier Global were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. Czech National Bank boosted its position in Carrier Global by 7.1% in the 3rd quarter. Czech National Bank now owns 171,027 shares of the company’s stock valued at $13,766,000 after buying an additional 11,350 shares during the period. GAMMA Investing LLC raised its stake in shares of Carrier Global by 28.9% in the third quarter. GAMMA Investing LLC now owns 14,456 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,244 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Carrier Global by 1.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 28,978 shares of the company’s stock valued at $2,332,000 after purchasing an additional 300 shares during the period. Diversified Trust Co boosted its holdings in Carrier Global by 27.9% in the third quarter. Diversified Trust Co now owns 17,787 shares of the company’s stock valued at $1,432,000 after purchasing an additional 3,881 shares during the period. Finally, Axiom Advisory LLC acquired a new position in Carrier Global during the 3rd quarter worth $258,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. JPMorgan Chase & Co. reduced their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Citigroup reduced their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Up 1.2 %

Shares of NYSE CARR opened at $63.91 on Wednesday. The business has a 50-day moving average price of $70.19 and a 200 day moving average price of $72.48. The stock has a market cap of $57.34 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. 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 52-week low of $53.13 and a 52-week high of $83.32.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend yield of 1.41%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are 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.