Valley Brook Capital Group Inc. Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Valley Brook Capital Group Inc. increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,793 shares of the company’s stock after buying an additional 325 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Carrier Global were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Leavell Investment Management Inc. increased its stake in Carrier Global by 17.8% during the fourth quarter. Leavell Investment Management Inc. now owns 5,927 shares of the company’s stock worth $406,000 after acquiring an additional 895 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Carrier Global by 10.6% during the 4th quarter. Summit Trail Advisors LLC now owns 24,240 shares of the company’s stock valued at $1,660,000 after purchasing an additional 2,321 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in Carrier Global by 1.8% during the 4th quarter. Soltis Investment Advisors LLC now owns 12,962 shares of the company’s stock valued at $885,000 after purchasing an additional 232 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in Carrier Global during the 4th quarter worth approximately $255,000. Finally, Angeles Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 418 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR opened at $65.31 on Wednesday. The company has a market cap of $58.60 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The stock has a 50-day moving average of $68.99 and a 200-day moving average of $72.41. 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.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 in the previous year, the firm posted $0.53 earnings per share. As a group, equities research analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were 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 was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada lowered their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group began coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Eight research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global 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.