Carrier Global Co. (NYSE:CARR) Stock Position Lowered by Hartline Investment Corp

Hartline Investment Corp lessened its position in Carrier Global Co. (NYSE:CARR) by 60.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,221 shares of the company’s stock after selling 49,692 shares during the quarter. Hartline Investment Corp’s holdings in Carrier Global were worth $2,199,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC lifted its position in shares of Carrier Global by 10.6% in the 4th quarter. Summit Trail Advisors LLC now owns 24,240 shares of the company’s stock valued at $1,660,000 after acquiring an additional 2,321 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in Carrier Global by 1.8% in the 4th quarter. Soltis Investment Advisors LLC now owns 12,962 shares of the company’s stock worth $885,000 after buying an additional 232 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Carrier Global in the 4th quarter worth approximately $255,000. Angeles Wealth Management LLC lifted its position in Carrier Global by 10.6% in the 4th quarter. Angeles Wealth Management LLC now owns 4,375 shares of the company’s stock worth $299,000 after buying an additional 418 shares in the last quarter. Finally, Liberty Capital Management Inc. lifted its position in Carrier Global by 4.0% in the 4th quarter. Liberty Capital Management Inc. now owns 29,010 shares of the company’s stock worth $1,980,000 after buying an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 3.4 %

Shares of CARR stock opened at $66.35 on Tuesday. Carrier Global Co. has a 12 month low of $53.13 and a 12 month 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. The business’s 50 day moving average is $69.19 and its two-hundred day moving average is $72.40. The company has a market cap of $59.53 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global declared that its Board of Directors has approved a stock repurchase 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 usually an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. UBS Group upgraded 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 report on Wednesday, November 13th. Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Eight investment 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 company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target 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.