Robertson Stephens Wealth Management LLC Sells 10,455 Shares of Carrier Global Co. (NYSE:CARR)

Robertson Stephens Wealth Management LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 61.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,571 shares of the company’s stock after selling 10,455 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Carrier Global were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. FMR LLC raised its stake in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Carrier Global during the 3rd quarter valued at approximately $130,479,000. Mizuho Securities USA LLC grew its holdings in Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after buying an additional 922,892 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares in the last quarter. Finally, State Street Corp grew its holdings in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $64.17 on Friday. 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 firm has a market capitalization of $57.58 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.12 and a beta of 1.35. The stock has a 50 day moving average price of $69.45 and a 200 day moving average price of $72.35.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. 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 1.40%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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

Wall Street Analysts Forecast Growth

CARR has been the subject of several research analyst reports. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. 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. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Stephens dropped their target price 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. Finally, JPMorgan Chase & Co. dropped their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Eight 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 stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average 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.